Ashish Singhal, CEO of CoinSwitch, one of the leading crypto companies in India, said that the country needs a crypto regulation that will protect investors and support the industry.
Singhal, CEO of CoinSwitch, India’s largest crypto company with a $1.9 billion valuation and over 18 million users, told Reuters at the World Economic Forum in Davos on Sunday. The CEO highlighted the government’s tides on whether to ban cryptoassets, saying that users don’t know what will happen to what they have. He also stated that the regulations would spruce up the space and provide more certainty.
As we reported earlier, India supports a possible ban on cryptoassets. Although the country’s move to tax cryptoassets is perceived as a signal of acceptance in the country’s crypto community, no clarity has yet been provided on the subject.
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