Crypto Exchange Binance Joins the Internet and Mobile Association of India
- Anu
- Jun 18, 2020
- 2 min read
One of the world’s largest digital 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.
In the middle of uncertainty about crypto industry in India, Binance has joined the country’s top internet association in a bid to shape the industry’s future.
IAMAI is representing crypto exchanges in India and it was one of the main petitioners in one of the important crypto matters about the Reserve Bank India’s (RBI) ban on financial institutions providing banking services to companies operating with crypto. Earlier this year, the ban was quashed by the Supreme Court of India in March.
IAMAI also plans 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.
Binance announced on 18 June that the 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.
Binance is honored and excited to join IAMAI and contribute its 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,” said Changpeng Zhao (CZ), Binance CEO.
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.