The BACC has asked the NPCI to restore the UPI service to Indian crypto exchanges

The local crypto-focused organization has sought time for a meeting to discuss the issue and understand the regulator's concerns.

The Blockchain and Crypto Assets Council (BACC) has asked the National Payments Corporation of India (NPCI)

It requested a meeting with the inter-bank retail payments and settlement body to discuss and understand its concerns around the crypto trade. Said.

“We asked for some time with the NPCI to understand their reservations and put forth our viewpoint to remove any misunderstanding,” a BACC source said.

BACC has reportedly said to NPCI that several of the crypto exchange strictly follow user KYC and other NPCI protocols and asked it to restore the UPI service to the business.

BACC is a non-profit advocacy group under the internet and Mobile Association of India. it has all major local crypto exchanges including CoinSwitchKuber, CoinDCX, and WazirX as its members in October 2021. Coin switch founder Ashish Singhal and CoinDCX co-founder Sumit Gupta were appointed as co-chairs of BACC.

Read full news at: http://cryptounity.news/the-bacc-has-asked-the-npci-to-restore-the-upi-service-to-indian-crypto-exchanges

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