CoinSwitch CEO Ashish Singhal & CoinDCX CEO Sumit Gupta are appointed as the Co-Chairs of IAMAI’s Crypto Council.
The Blockchain and Crypto Assets Council (BACC), a part of IAMAI whose members are crypto exchanges operating in India and are signatories of a self-regulatory code of conduct that ensures they comply with basic KYC and other regulatory guidelines, has announced the appointment of Ashish Singhal, Founder and CEO, CoinSwitch and Sumit Gupta, Co-Founder and CEO, CoinDCX, as its Co-Chairs.
Singhal and Gupta will be primarily responsible for driving the adoption and growth of the cryptocurrency industry in India and creating a safe consumer environment. India has seen an exponential rise in cryptocurrency adoption, with more than 1.5 crore Indians holding assets.
Their reactions prior the crypto council appointment
Cryptocurrencies are getting further mainstreamed in India. The industry is working closely with regulators and policymakers. In order to build a prosperous and secure crypto environment to put India on the global map. We believe that a progressive regulatory framework will foster innovation in financial offerings and bring financial well-being to every Indian.– Ashish Singhal, CoinSwitch CEO (on his appointment)
Sumit Gupta echoed similar views. Who said that India today ranks second in the percentage of cryptocurrency ownership across the world.
According to him, the interest and confidence in the new age asset class will increase. As more and more people understand its potential. The onus is now on the government and the players to create an inclusive ecosystem, Gupta added. “
The Blockchain and Crypto Assets Council (BACC) was set with the vision of doing public advocacy for the industry. To increase awareness about crypto and provide industry guidance. All major exchanges are members of this industry body.
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