Ongoing uncertainty regarding crypto regulation in India does not prevent local crypto companies from launching global offerings.
The Indian crypto exchange CoinDCX is preparing to market its global crypto exchange platform, called Cosmex, in 2022, according to one of the company’s executives.
Ramalingam Subramanian, Head of Branding, Marketing and Communications at CoinDCX, told Cointelegraph that CoinDCX has great ambitions to expand the stock market globally as its future platform will be aimed at a global audience.
The company originally announced the development of Cosmex in February 2021 with plans to expand CoinDCX’s presence in global markets amid growing global demand and use of cryptocurrencies.
According to Subramanian, Cosmix will probably be launched next year, first in Western Europe and Southeast Asia.
Subramanian stressed that Cosmix has “nothing to do with what is happening in India,” adding that the platform is likely to meet the “huge demand” for crypto services outside India. He added that CoinDCX is not willing to add speculation about regulatory uncertainty in India by discussing scenarios where Indian regulators are taking a tougher line in the industry.
On this topic: Indian Cryptocurrency CoinDCX has no immediate IPO plans
Subramanian noted that the main platform, CoinDCX, is “oriented towards India as a whole” and has restrictions on some countries.
Following the lifting of a major ban on crypto services in 2020, Indian authorities are reported to be considering further restrictions on the industry. However, experts are confident that the Indian government will probably choose to regulate the growing crypto-economy instead of banning it.