India Can Lead the Web3 Wave With Clear Rules: Sumit Gupta

Sumit Gupta, the founder of CoinDCX, a cryptocurrency trading platform, has shared his thoughts about how India has a fantastic chance to become a leader in Web3, which is the next big step for the internet, focusing on technologies like blockchain and cryptocurrencies.

In his recent post on X , the CoinDCX founder stated that India can lead in Web3. Some X users concur with him, stating that India could lose its opportunity to lead in Web3 if the government doesn’t move swiftly, and they don’t want India to lag behind. 

Gupta said India has everything it needs to make the country successful in Web3. He stated that India has many people interested in these technologies, with skilled workers and many possibilities for growth. He has also emphasized the problem the country faces. 

According to Gupta, India does not have clear rules for Web3 and cryptocurrencies yet. He warns that without these rules, other countries might take the lead, and India could miss out on this important opportunity.

He also mentioned that he gave an interview to Fortune India, where he explained these ideas in more detail. Gupta is pushing for the government to create clear regulations quickly so India can stay ahead in this new internet revolution and not fall behind other countries.

Although many were frustrated, pointing out problems like the high tax on crypto trades, which makes trading expensive, and the lack of enough buyers and sellers in the Crypto-INR market, making it hard to trade easily. The users feel that these issues are already holding India back compared to other countries.

Gupta’s message highlights CoinDCX’s big goal. He wants to make cryptocurrencies as normal and popular as stocks in India. His words also highlight that India is at a decisive moment. He believes the country needs clear and fair rules for crypto to grow while also keeping in mind that it should be safe while encouraging new ideas and making sure talented people stay in India to work on Web3.