PremiumWith uncertainty becoming a trend in the cryptocurrency market, Zerodha co-founder Nithin Kamath on 9 November suggested that like India celebrate its payment systems for being the best, the country also need to do the same for its market infrastructure.
He was of the opinion that India's capital market infrastructure and regulations don't get enough credit for being among the best in the world.
Kamat took to the micro-blogging website and wrote, "It is crazy and scary what is happening today in the Crypto world. Crypto Brokers and exchanges can act as banks in most markets, exposing customers to unlimited risk."
"In India, all securities are held by the customer at the depository. All unused funds are sent back monthly/qtrly and one client's funds can't be used to fund another," he wrote in the following tweet.
Kamath reminded that in most markets brokers can hold customer securities and funds indefinitely and use them any way they want.
Asking the markets regulator Sebi to make some arrangement, he wrote, "Like we celebrate our payment systems for being the best, we also need to do the same for our market infrastructure. Especially SEBI, for whatever they have done to protect retail investor interests by continuously reducing risks and marking our markets safer."
Earlier on 8 November, Nithin Kamath has shared his views on social media platforms and called them ‘addictive dopamine hit’. He said that the platforms can make people hooked for more likes and shares over a period of time.
According to Zerodha CEO, one of the toughest tasks he has done in his life is to build an audience, without getting consumed by social media platforms.