Sumit Gupta has stated that the competition in India’s crypto market is more than expected.
Forty-nine crypto exchanges received FIU registration during FY 2024-25.
India is closely monitoring its crypto market.
Sumit Gupta, the Chief Executive Officer of CoinDCX, has underlined the level of competition that exists in the Indian crypto market. His statement comes after reports surfaced, highlighting the number of crypto exchanges that have registered with the Financial Intelligence Unit (FIU). India continues to monitor developments in its crypto market.
Sumit Gupta on Indian Crypto Market
CoinDCX CEO has stated that the Indian crypto market is more competitive than most people think it is. He based this on the fact that at least a hundred exchange platforms are yet to complete their registrations with the FIU, a federal agency that is responsible for reviewing the misuse of the country’s financial system.
49 crypto exchanges are already FIU registered, and 100s
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