Sunday, February 5, 2023

ASCI Announces Partnership With CoinDCX To Develop Transparency In Crypto Ads

Advertising Standard Council of India (ASCI), a self-regulatory organization, has recently announced its partnership with one of India’s leading crypto exchanges CoinDCX, recently. The aim of this partnership is to contemplate regulations to build transparency in crypto advertising.

A month ago, Delhi High Court ordered the Indian crypto exchanges to add “standardized” disclaimers to their ads. 

CoinDCX’s latest partnership with ASCI shows that the exchange is in support of enhancing advertising standards within the Indian crypto industry. 

While talking about his company’s partnership with ASCI, Sumit Gupta, the Co-Founder of CoinDCX, said, “We are honored to be a member of ASCI that safeguards consumers’ interests. The involvement reaffirms our commitment towards ensuring safety and security for our users, and to raise the bar for advertising transparency in the 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.”

Subhash Kamath, Chairman of ASCI, also shared his views and said that ASCI has brought a lot of changes in advertising, since the time it entered the digital age.

Kamath also appreciated CoinDCX for extending its partnership with ASCI and stated that it also welcomes all those companies who believe in self-regulation. 

CoinDCX was found in 2018, and since then over 3.5 million users have registered on the platform. Its further aim is to make crypto accessible in India and also, accelerate its efforts to bring 50 million Indians into crypto.

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