Government Should Take Position on Cryptocurrencies: Vijay Shekhar Sharma, Founder of Paytm

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He added: “We Indians are more critical of ourselves than foreigners. International investors have much better expectations of us and much better words of encouragement for us than we Indians would have ourselves.

Paytm founder Vijay Shekhar Sharma said on Thursday that the Indian government should take a stand on cryptocurrencies.

“I fundamentally believe the government should officially take a stand on this as it will clear up any confusion,” Sharma said while answering a series of questions on cryptocurrencies at the ICC’s annual session and AGM. .

“Are you going to venture into crypto? The answer is 100%. we would be 100% [into] crypto. There is no confusion … I want to tell you that when you see crypto becoming legal, [you will wonder] how was the world before. It’s exactly like what we talked about after the introduction of the Internet, laptops and cellphones, ”he said.

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The Cryptocurrency and Official Digital Currency Regulation Bill, 2021, is among 26 new bills on the agenda for the winter session of Parliament which begins on November 29.

Commenting on the moderate stock listing of One97 Communications, the parent company of Paytm, Sharma said: “No one would have been happy with this IPO performance. First of all, I’m not happy… I’m not happy with the performance on Day 1. But we’ll win the whole series, I can tell you that.

He added: “We Indians are more critical of ourselves than foreigners. International investors have much better expectations of us and much better words of encouragement for us than we Indians would have ourselves.

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The subdued listing and initial continued weak trade of Paytm, India’s largest next-gen fintech, was seen as a “big sentimental setback” for the domestic market, which was thriving in a strong primary market. Analysts had said this would impact the influx of money to the retail segment, which has been a key player during the year.

Shares of One97 Communications rose for the third session in a row on Thursday after a weak start. “I personally feel a very lucky person that every effort on our part, every resource has been added to us, [all] the money we invest makes our country a better place, ”said Sharma.

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“I hope that as Paytm Payments Bank we can become a small financing bank because then we can solve a lot of payment problems,” he said.

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