India’s crypto exchange and the nation’s first crypto unicorn CoinDCX has joined the Advertising Standards Council of India (ASCI), a voluntary self-regulatory organisation of the advertising industry.
With this membership, CoinDCX will actively support the advancement of advertising standards within India’s cryptocurrency and digital asset industry — thereby promoting transparency in communications and building public confidence in the space.
Sumit Gupta, Co-Founder and CEO of CoinDCX, said, “We are honoured to be a member of ASCI that safeguards consumers' interests. 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. Being the safest crypto exchange, we have always gone the extra mile to ensure we are fully compliant with the laws and imbue credibility and trust in our service and products.”
Commenting on CoinDCX’s membership, Subhash Kamath, Chairman of ASCI, said, “As ASCI steps into a digital age the nature of advertisers and advertising is changing rapidly. We welcome members representing these new industries, who believe in self-regulation. Collaboration and consultation with all stakeholders are keys to navigating the consumer protection challenges posed in this digital age.”
Founded in 2018, CoinDCX claims to have onboarded more than 3.5 million users. “It will now carry forward the vision of making crypto accessible in India and accelerate its efforts towards bringing 50 million Indians into crypto. With the growing positive sentiments in the crypto space this year, CoinDCX will continue to scale its dedicated products on the investments and trading side,” the company said in a press statement.