Binance joins indian tech association that helped overturn crypto banking ban. According to a press release, Binance ‘s partnership with India’s Internet and Mobile Association (IAMAI) is an early step in implementing industry best practices in the Indian crypto market. India’s crypto-sector grew rapidly after a de facto ban was lifted in March 2020. Binance is now a member of the crypto committee at IAMAI.
“We warmly welcome Binance as a member of the Crypto Asset Committee of IAMAI,” Gaurav Chopra, vice president of IAMAI, said in a press release.
“Given their hands-on experience of regulatory compliance in various countries, we are excited to work with Binance and other industry players in developing a constructive policy framework for crypto assets in India, helping other exchanges operate in India compliantly and developing a strong framework to foster innovation while managing potential risks,” Chopra added.
“Binance is honored and excited to join IAMAI and contribute our part in shaping the Indian blockchain industry for sustainable growth and development,” said Binance CEO Changpeng “CZ” Zhao. “We hope to further accelerate the progress of blockchain adoption in India and are committed to working with IAMAI on an innovation-led and progressive framework for digital assets and blockchain.”
IAMAI says it plans to work with regulators and decision-makers to develop a sustainable cryptocurrencies regulatory structure in India.