Cryptocurrency startups launch Digital Asset and Blockchain Foundation of India

A committee spearheaded by Saurabh Agrawal, chief operating officer of Zebpay, has been implanted with members comprising Sandeep Goenka (Zebpay), Mohit Kalra (Coinsecure), Sathvik Vishwanath (Unocoin), Harish B V (Unocoin) and Vishal Gupta (Searchtrade), Rashmit Gupta (Searchtrade).
The DABFI can lay down self-regulatory regimes for commercialism of bitcoins and different blockchain primarily based digital assets. they'll additionally standardise KYC/ AML/ STRS norms for the member corporations.

Apart from this, the organisation intends to create credibleness and build awareness regarding the advantages and risks of CC, negociate with regulators and obtain clarity on taxation, attract investment and established incubators to push startups, build international relations and actively interact with International community, produce a public web siteand frequently print reports on and around bitcoins and blockchain.

Agrawal, CEO, Zebpay aforementioned, "This organisation aims to drive education and build marketplace for blockchain and bitcoin within the Indian market that is currently on the trail of digital economy. Our vision would be to figure with regulators and develop sturdy framework for our trade to supply needed impetus for the expansion of the trade."

With the cryptocurrency touching a replacement high last month at $990.87, there has been vital interest from users. From mobile recharges and DTH payments to looking on-line, the currency is speed gaining ground. Around six million bitcoins square measure listed per day across the world.