Indias First Crypto Unicorn CoinDCX Joins Advertising Council, To Support Advancement Of Crypto Ads

• BySheetal Sidhu     |    August 26, 2021

Indias first crypto unicorn CoinDCX announced that it has joined Advertising Standards Council of India (ASCI) to actively support the advancement of advertising standards within India’s cryptocurrency and digital asset industry, thereby promoting transparency and building public confidence in the space. The announcement came amidst regulatory uncertainty in the crypto space in India, and followed the Delhi High Court’s July 2021 move to issue notices to crypto firms and authorities to enforce guidelines (such as ad disclaimers) for exchanges advertising on national television.

The court sought responses from entities, reportedly including CoinDCX and WazirX, besides the Securities and Exchange Board of India (SEBI) and the Ministry of Information and Broadcasting. Sumit Gupta, Co-founder and CEO of CoinDCX, said in a statement: “The involvement reaffirms our commitment towards ensuring safety and security for our users, and to raise the bar for advertising transparency in crypto space in India. This will boost confidence among the users, and they can use our platform without any apprehension.”

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