India unicorn crypto exchange, CoinDCX, finally joined the non-government organisation ASCI to keep themself away from the radar of Indian regulators.
In the present crypto is neither legal nor illegal. The government authorities of India is still doing research and Investigation whether they should ban or impose regulatory framework. In the middle of June, Indian Delhi high court ordered crypto companies to serve crypto ads with better clarity, otherwise suitable action will be taken against crypto companies.
Reports say that Due to the influence of the Delhi High court order CoinDCX joined the Advertising Standards Council of India ( ASCI).
ASCI is a non government organisation, which is self regulatory in favour of the Indian consumers interest.
Recently, CoinDCX became the first ever crypto unicorn company of India. CoinDCX probably feels huge confidence because of such achievements.
Now, under the cited partnership with the ASCI, CoinDCX will bring better transparency in their Advertisements related to their crypto services.
Sumit Gupta, CEO & Founder of CoinDCX, stated that it will result in huge confidence for them in the Indian cryoto community. And also CoinDCX will be able to comply with the laws and rules of India.
“We have always gone the extra mile to ensure we are fully compliant with the laws and imbue credibility and trust in our service and products”
Subhash Kamath, Chairman of ASCI, stated
“Collaboration and consultation with all stakeholders are keys to navigating the consumer protection challenges posed in this digital age”