Binance announced this Thursday that it has joined the crypto-asset exchange committee at the Internet and Mobile Association of India (IAMAI), to help develop the crypto and blockchain industry in the country.
The IAMAI is the leading trade body of digital businesses within India. With Binance joining the fold, the association will put its efforts behind implementing industry best practices that are currently followed by international exchanges.
“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.”
Is India heading for a crypto ban or boom?
Based on trading volume, Binance is currently in the world, according to CoinMarketCap. The move from Binance follows on from rumours surfacing late last week that a second wave of efforts to ban cryptocurrency in India might be coming. This led to whether India might be on the bring of a crypto ban or boom.
Binance to contribute to shaping crypto landscape in India
“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.”