[2017-02-23] Moneycontrol: Bitcoin players join hands to regulate Indian crypto

Bitcoin players join hands to regulate Indian cryptocurrency mkt

http://www.moneycontrol.com/news/business/bitcoin-players-join-hands-to-regulate-indian-cryptocurrency-mkt_8548941.html

Bitcoin startups Zebpay, Unocoin, Coinsecure and Searchtrade on Thursday jointly launched Digital Asset and Blockchain Foundation of India (DABFI) for the orderly and transparent growth of virtual currency market. Nishith Desai Associates, an international law firm has been appointed to develop self-regulations for the industry.

A committee spearheaded by Saurabh Agrawal, CEO of Zebpay comprising Sandeep Goenka (Zebpay), Mohit Kalra (Coinsecure), Sathvik Vishwanath (Unocoin) and Vishal Gupta (Searchtrade), among others will develop rules for the bitcoin industry.

DABFI will lay down self-regulatory regimes for trading of bitcoins and other blockchain based digital assets. It will also standardise KYC/AML/STRS norms for the member companies.