CoinDCX, India’s bitcoin exchange, plans IPO

Indian cryptocurrency exchange CoinDCX will pursue an IPO after regulatory clarity emerges. This was stated by co-founder Niraj Handelwal, reports Bloomberg.

According to the co-founder of India’s first “crypto unicorn,” the sale of shares would be a vote of confidence for the domestic digital-asset industry. He drew a parallel with listing of Coinbase on Nasdaq.

According to Handelwal, the firm will decide the timing of the IPO depending on government regulations.

A representative of the exchange cited the debated digital assets bill. In his view, it signals progress and the authorities’ recognition of a growing base of crypto investors.

Earlier in November, the government plans to ban most private digital assets.

It is expected that India will refrain from a full ban on cryptocurrencies, in favor of treating them as exchange-traded goods. The bill is expected to be prepared by до 23 декабря.

Also in November, the Reserve Bank of India said it had “serious concerns” about cryptocurrencies.

Earlier, as a result of the funding round, CoinDCX was valued at $1.1 billion.

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