The Crypto Space in India: in Conversation With Sumit Gupta, Founder CoinDCX

The topic of cryptocurrency in India has been a spotlight topic for the last couple of years, especially after the lifting of RBI’s banking ban by the Supreme Court in March 2020. That is when the mass adoption started to take shape and people were stirring up the hushed questions to the Indian exchanges and on Google search!

In order to understand the crypto space in India, we will first need to go back in time. On 6th of April, 2018 RBI came up with the circular which prohibited banks or regulated entities to work with crypto businesses. It was not a ban per se it was a banking bank where banks were prohibited to work with crypto exchanges, but people could still buy and sell. But the nature of the industry is such that you cannot do transactions without the banks in place. On the 15th of August, 2018 CoinDCX launched a new product called DCX Insta where two people could directly buy and sell with each other in a matter of a minute or so.

Being the pioneer of the crypto industry, CoinDCX has always believed that it is important to educate the mass about the new asset class along with providing them seamless investing and trading experiences. It is of utmost importance to educate the mass about the new asset class along with providing them seamless investing and trading experiences. Adhering to that, CoinDCX has structured its policies and its products with industry best practices while keeping in mind the various possibilities and huddles that the crypto industry might face.

Read more: Crypto in India: The Industry Perspective. Sumit Gupta in conversation with IIMA