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Don’t panic, sell or short sell cryptocurrencies: Zebpay’s Avinash Shekhar


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Bitcoin Ban: Our belief is that the government will move towards regulation rather than a ban. So the message to the customer is not to sell short or sell your crypto below the market price, advised Avinash Shekhar, co-CEO of ZebPay.

Cryptocurrency prices collapsed in India on Wednesday morning after a government announced it was set to ban all private cryptocurrencies during the upcoming winter session of Parliament. As prices later recovered, ZebPay’s Avinash Shekhar suggested that investors should not engage in short selling or panic selling.

“Our belief is that the government will move towards regulation rather than a ban… So from our side, the message to investors is: don’t sell short. And don’t sell your crypto below the market price. The government will come out with something positive, ”Shekhar told CNBC-TV18.

Speaking about the government’s announcement to create a central bank digital currency (CBDC), Shekhar said CBDCs will help develop the cryptocurrency ecosystem.

For the full discussion, watch the video

First publication: STI


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