KuCoin CEO Sees India Emerging as Key Market, Denies Being in Stress KuCoin CEO Sees India Emerging As Key Market, Denies Being in Stress

KuCoin CEO Sees India Emerging as Key Market, Denies Being in Stress

While many top-tier crypto exchanges have given up on India given the regulatory uncertainty and bear market, KuCoin CEO Johnny Lyu is bullish on the local market for the long run. In a recent interview, he talked about “a welcoming market” and the availability of “expertise” as the two key reasons for his optimism for the Indian cryptocurrency landscape.“No matter what the present situation is, as a trading platform which is about to be 5 years old, we’re looking for the future.

Also, Lyu thinks the introduction of tax deduction at source on crypto transactions by the Indian government is a move towards regulating the digital asset space.KuCoin also faced speculations on social media that it might go insolvent – the way Celsius and 3AC, for example, have gone. After the rumors began on July 2, KuCoin witnessed high levels of withdrawals, Lyu admitted.that the KuCoin CEO denied that the exchange was going insolvent.

“The accountability mechanism within the Web 2.0 period isn’t mature enough and the costs of spreading rumors is very low,” he said, adding that traceability of rumors and due punishment for such acts will increase in the Web 3.0 environment.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

We're adding to 2 stocks that had strong earnings but saw tepid market reactionsThe companies are also in two sectors that we think are right for this rough market: oil and health care.
Source: CNBC - 🏆 12. / 72 Read more »

Axie Infinity (AXS) Rallies for 10% Following Rise of GameFi IndustryOne of biggest GameFi tokens on market saw massive 50% gain in last 7 days and was not yet ready to stop
Source: Utoday_en - 🏆 295. / 63 Read more »

Is 2022 Crypto Market Worse Than 2018?On today's CoinMarketCap episode we take a look at the differences during the 2018 bear market and the current market drawdown.0:00 - 2018 Bear Market and 20... HZMCoin $ HZM The world has gone crazy with all these cryptocurrencies, it's true but if you search, you're sure to find our HZM COIN the first Arab currency that changed all of your trading and investing strategies Become a member of our HZM family today malarab1 HZMCoin always keep your eyes on it because it will simply amaze everyone..go Buy_HZM_COIN🚀 malarab1 Nope wait till the end of December ojacoin is coming…
Source: CoinMarketCap - 🏆 290. / 63 Read more »