GettyImages 923835828 1 "Top Indian tech advocacy group drops crypto over regulatory uncertainty" " India's top tech advocacy group pulls the plug on crypto amid regulatory uncertainty"

“Top Indian tech advocacy group drops crypto over regulatory uncertainty” ” India’s top tech advocacy group pulls the plug on crypto amid regulatory uncertainty”

– The Internet and Mobile Association of India (IAMAI) is dissolving the Blockchain and Crypto Assets Council (BACC), its four-year endeavor to support and lobby for the nascent technology category.
– The association said in a statement that it was forced to take the decision because a resolution of the regulatory environment for the industry is still very uncertain.
– The move is the culmination of years of frustration for the Indian crypto industry, which has felt that the lobby groups influence and reach have been unable to deliver enough landmark results, people familiar with the matter told TechCrunch.
– The IAMAI felt that it was risking its reputation by continuing to push for the adoption and support for crypto, two different people familiar with the matter said.
– Regardless, the discontinuation of the Blockchain and Crypto Assets Council brings the local industry back to the drawing board at a time when local exchanges and other crypto firms are seeing a sharp decline in trading volume in the wake of India enforcing taxation on the virtual digital assets.

GettyImages 923835828 "Top Indian tech advocacy group drops crypto over regulatory uncertainty" " India's top tech advocacy group pulls the plug on crypto amid regulatory uncertainty"
"Top Indian tech advocacy group drops crypto over regulatory uncertainty" " India's top tech advocacy group pulls the plug on crypto amid regulatory uncertainty" 3

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