Donald Trump is expected to announce new crypto rules soon, and Sumit Gupta, CEO of CoinDCX, believes India must act quickly as well. Gupta warns that delays could cause India to lose innovation, talent, and value from crypto transactions. He highlights the negative impact of high taxes and unclear policies on the Indian crypto industry, with 90% of trading being pushed offshore. Gupta calls for better policies to support the industry and attract innovation. He urges India to act now to stay competitive with other countries that are planning big steps for crypto regulation, and he is hopeful about India's future in crypto. CoinDCX has made an offer to acquire troubled crypto exchange WazirX, but the process is delayed due to legal issues. Despite acknowledging that no exchange is 100% safe from hacking, Gupta emphasizes the importance of how exchanges respond and highlights CoinDCX's strong measures to protect users, including insured wallets and a crypto investor protection fund. He believes that India will gradually accept crypto and must act quickly to stay ahead in the global crypto race.



Other News from Today