2022 will see a CBDC race: WazirX CEO

2022 will see a CBDC race where countries will race to be the first to launch their CBDCs, says the WazirX CEO. Let’s find out more about his comment.

Introduction

2021 unarguably has been the year of Cryptocurrencies. However, what didn’t happen in 2021 were the much-awaited laws and regulations related to Cryptocurrencies. While the initial concern was the government’s choice to ban Cryptocurrencies entirely, regulations are the talk of the town now.

Along with regulations many countries are also looking to launch their own CBDC or Central Bank Digital Currency. However, the desire to launch this CBDC is high, they’re still in development and consideration.

Views of WazirX CEO on this

Mr Nischal Shetty, the founder and CEO of the popular Cryptocurrency Trading platform WazirX has shared his thoughts on the future of the Cryptocurrency environment in 2022. While individuals and organisations are betting on a technological phenomenon like Metaverse and NFTs. Countries are anticipating framework, rules and regulations, and last but not the least Central Bank Digital Currency or CBDC.

Shetty shared his thoughts on the scenario of Crypto regulations in India. He said that “As an industry, we are pushing for regulations, we want to be regulated so that the good activities can prosper while keeping bad actors at bay.”

He also said that CBDCs will see a surge in popularity. And countries more than ever will be trying to get into CBDC. He said that 2022 will be a race where countries will compete against each other in CBDC. Every country’s goal will be to launch its CBDC faster than the others.

Comments about NFT

Shetty said that 2021 has been the year of NFTs. Everybody was running to buy NFTs. However, 2022 will be the test for them. This year NFTs will be looking for liquidity in the market. This year, NFT owners would look for potential buyers for their NFTs. Undoubtedly, this will be a test for NFTs where they can prove their worth.

Conclusion

2022 will see a CBDC race where countries will race to be the first to launch their CBDCs, says the WazirX CEO. Shetty shared his opinions talking about different topics related to Cryptocurrencies. It’s informative to learn about the opinions of big names in Cryptocurrencies. This gives an insight into the future of Cryptocurrencies.

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