Prominent cryptocurrency exchange, Zebpay joined the list of several crypto platforms in India in coming together in order to lay out better regulations for the country.
The crypto scene in India has been quite confusing for many. While several authorities of the country have been hinting at an imminent ban, the Finance Minister of India, Nirmala Sitharaman asserted that the Indian government was taking a “calibrated” approach towards crypto regulations. The government has even set up a panel to regulate the crypto market.
Alongside all of this, IndiaTech, a platform focused on inducing regulatory clarity in the country came to be. This platform has been garnering the help of several crypto firms across the country. Zebpay is the latest to jump onto this.
Zebpay dives into IndiaTech
With Zebpay affirming its involvement with IndiaTech, it was noted that several platforms have considered diving into the project. Addressing this, the CEO of IndiaTech, Rameesh Kailasam stated,
“The exchanges liked the approach we took to address the issues. Crypto exchanges want to be part of IndiaTech because we have moved the needle in the past few months on the narrative and perception of this industry.”
IndiaTech isn’t the only project that Zebpay was part of. The crypto exchange had also joined prominent Indian cryptocurrency platforms like CoinSwitch Kuber, WazirX as well as CoinDCX to be a part of the Blockchain and Crypto Assets Council [BACC].
An anonymous executive from a platform revealed that he was considering joining IndiaTech. He added,
“It’s all about trying from different bodies and seeing what works. There’s unlikely to be a single regulator anyway, so we’re just trying to do different things to see what works.”
While India is home to an array of crypto exchanges, the government seemed to be moving towards regulating the industry. As Indians await regulatory clarity, the crypto market continued to slump without a stop.