Cryptocurrency trade gained large traction in India after the supreme court lifted the Ban on crypto trade. Many new exchanges and wallets started operation in the country in order to take advantage of the favorable market.
DigitX sees cryptocurrency as an asset class and aims at promoting cryptocurrency among traders and brokers who currently trade inequities. Ashish Mehta co-founder of DigitX told that banning is not an option for such an accepted asset class, regulation will be more ideal. It should be important to have to know your customer (KYC).
DigitX sees crypto as an asset class and believes cryptocurrency has not reached its full potential. As of now, cryptocurrency is not a medium of exchange, in order to be a medium of exchange it should be accepted by services and people. DigitX expects that to happen in a few years.
To start with DigitX will have 20 tokens which includes the top 5 tokens, by a year they plan on listing all the tokens.
His statement came out in the wake of Niti Ayog planning to use blockchain technology, while the government is working on a bill that may ban cryptocurrency.
