Binance, the major cryptocurrency exchange, has joined the crypto-asset exchange committee at the Internet and Mobile Association of India (IAMAI), the leading trade body of digital businesses in India.
On June 17, it has been reported that this new cooperation will include efforts to implement industry best practices from across the globe followed by leading international exchanges, aiming to grow and develop the crypto and blockchain industry in India together.
However, Gaurav Chopra, the Vice President of IAMAI, said:
“We warmly welcome Binance as a member of the Crypto Asset Committee of IAMAI. Given their hands-on experience of regulatory compliance in various countries, we are excited to work with Binance and other industry players in developing a constructive policy framework for crypto assets in India, helping other exchanges operate in India compliantly and developing a strong framework to foster innovation while managing potential risks.”
It has been analyzed that IAMAI has planned to jointly work with the regulators and policy-makers on a sustainable policy framework for crypto assets in India to support innovation along with proper measures to ensure security and risk management.
Changpeng Zhao (CZ), the CEO of Binance, stated:
“Binance is honored and excited to join IAMAI and contribute our part in shaping the Indian blockchain industry for sustainable growth and development. Binance has been dedicated to and supportive of the Indian projects and entrepreneurs who are solving social or industrial problems through blockchain technology, including the launch of our ‘Blockchain for India Fund’ supporting the development of India’s blockchain ecosystem.”
Thus, CZ added:
“We hope to further accelerate the progress of blockchain adoption in India and are committed to working with IAMAI on an innovation-led and progressive framework for digital assets and blockchain.”
Internet and Mobile Association of India (IAMAI) is a not-for-profit industry body registered under the Societies Act, 1896. Founded in 2004, IAMAI puts forward the problems and requirements of the businesses to the consumers, shareholders, investors, and the government of India. The main purpose of the Internet and Mobile Association of India is to improve and expand the value-added services pertaining to mobiles and several online services. To know more in detail, visit here.