Indian crypto exchange CoinDCX has made an important announcement for its users. Neeraj Khandelwal, co-founder of CoinDCX, said that the platform will soon update its phrases and statuses in line with Indian laws. Their move is extremely important for Indian crypto users, especially when questions are being raised about Indian exchanges whether they are actually Indian, or whether their operation processes have been shifted abroad.
“It is a huge disaster that Indian crypto users have to go to Dubai, Singapore or Mauritius for legal help,” Khandelwal said in a recent post on X. This comment from the CoinDCX Founder comes amid concerns that issues are being raised regarding the operation of Indian crypto exchanges and their legal rights under Indian law.
CoinDCX’s big step for Indian users
The co-founder of CoinDCX clarified that the company is committed to its operations in India and services will be provided to Indian users only as per Indian law. He said that the company has rapidly started the process of updating its terms and conditions keeping in mind the interests of the Indian crypto community. New updates may be available in the next few weeks.
key points:
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Updated as per Indian laws: CoinDCX Phrases And Statuses Will update as per Indian laws, so that Indian users can get complete security.
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Company’s international presence: CoinDCX also clarified that it is based in Singapore, but Indian users will interact with the Indian entity only.
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Attention to return process: CoinDCX also noted that on the platform cryptocurrency The evacuation process is a major priority and work is underway.
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BitOasis Ownership: CoinDCX also revealed that they own BitOasis, the UAE’s largest crypto exchange.
Conclusion
The changes and improvements being made by CoinDCX are a good sign for Indian crypto users. Updating the terms and conditions as per Indian laws and paying attention to the crypto withdrawal process is a step taken by the company to restore the trust of the users. However, the withdrawal process and other issues will have to wait for some more time to be resolved, but CoinDCX has ensured that they will address the concerns of Indian users and provide them with proper legal protection.
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