With this membership, CoinDCX will actively support the advancement of advertising standards within India’s cryptocurrency and digital asset industry
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.
“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,” Sumit Gupta, co-founder and CEO of CoinDCX, 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,” Subhash Kamath, Chairman of ASCI said.
Founded in 2018, CoinDCX claims to have already 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, the company has said. “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,” it added. CoinDCX recently announced that it has raised $90 million which values the company at over $1.1 billion. B Capital Group, founded by former co-founder of Facebook Eduardo Saverin, led the Series C funding in the company, which also saw participation from existing investors like Coinbase Ventures, Polychain Capital, Block.one, Jump Capital.