The Indian cryptocurrency exchange CoinDCX plans to hold an IPO

The company will organize a listing when the local authorities form the regulatory rules for the crypto market

30.11.2021 - 12:45

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What’s new? The Indian cryptocurrency exchange CoinDCX is set to go for an IPO. According to its co-founder Neeraj Khandelwal, this will happen as soon as the regulatory rules for the crypto market are formed in the country, Bloomberg reports.

Material on the Bloomberg website

What did Khandelwal state? According to the co-founder of the crypto exchange, it will decide on the right time for the IPO depending on the authorities’ regulations. He added that the sale of the securities will be a vote of confidence for the digital asset industry in India.

What had happened before? In mid-November, it was revealed that the Reserve Bank of India has set a timeline for the launch of a pilot version of the central bank digital currency (CBDC).

According to the bank's representative P. Vasudevan, the launch will take place in the first quarter of 2022. It is not about the calendar quarter, but the fiscal quarter, which will start on April 1. The regulator is currently studying various launch options. The decision on whether it will be a retail or wholesale currency will be taken after this analysis.

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