Connect with us


Indian exchange CoinDCX cements crypto educational agenda



Despite concerns about possible anti-crypto legislation in the near future, Indian crypto firms are rolling out educational programs and professional training for the crypto-curious. 

Cryptocurrency exchange CoinDCX announced on Sept. 2 that it will be integrating into an online training and blockchain certifications course run by an organization called Blockchain Council. 

Two specialized courses in cryptocurrency training and expertise will be offered through the new partnership. These will extend CoinDCX’s existing educational platform, “DCX Learn” and will offer trainees practice sessions using the exchange’s interface for simulated trading experience.

The new trading and cryptocurrency expertise courses will complement the Blockchain Council’s existing certifications in blockchain technology, Bitcoin, Ethereum and Hyperledger. 

In a statement, Blockchain Council’s executive director, Toshendra Sharma, said that the organization’s curricula aim to be “industry-oriented and career focussed.” 

Sharma believes that the partnership with a cryptocurrency exchange will ensure that the training on offer is “realistic and up-to-date” with the latest developments in the field.

According to CoinDCX, the highest demand for professionals in the cryptocurrency in the field is concentrated in Bengaluru, in the southern state of Karnataka.

The educational program extends the exchange’s commitment to heightening awareness and broadening adoption of cryptocurrencies in the country; in March, CoinDCX had allocated $1.3 million to a long-term project dubbed TryCrypto. 

The initiative’s goal is to introduce 50 million Indian users to the cryptocurrency and blockchain sector.  

In the first half of 2020, the exchange had closed a $3 million Series A round with funding from Bain Capital, as well as securing $2.5 million in strategic investment from Coinbase and Polychain Capital.

This climate of investment and optimism tallies with the Indian Supreme Court repeal of a ban on banks’ dealings with crypto firms this March, which had been in force since July 2018. 

While the repeal sparked a boom in exchanges and user interest, the crypto regulatory and legal climate remains uncertain, as authorities reportedly mull alternative frameworks to restrict the trading of digital assets.

Source link


SEC has no authority over crypto, CFTC commissioner argues




Amid the United States Securities and Exchange Commission (SEC) expanding the scope of oversight of the cryptocurrency industry, a commissioner with the Commodity Futures Trading Commission (CFTC) argued that crypto regulation doesn’t fall under the SEC’s jurisdiction.

CFTC commissioner Brian Quintenz took to Twitter on Wednesday to declare that cryptocurrencies like Bitcoin (BTC) should be regulated by the CFTC rather than the SEC.

Quintenz stressed that cryptocurrencies are commodities and thus fall under the CFTC’s jurisdiction, as opposed to securities that are regulated by the SEC, stating:

“Just so we’re all clear here, the SEC has no authority over pure commodities or their trading venues, whether those commodities are wheat, gold, oil….or crypto assets.”

Quintenz’s remarks came just about half an hour after former CFTC chairman Christopher Giancarlo made a similar statement on Twitter, arguing that the CFTC is the only U.S. regulatory agency that has experience regulating markets for Bitcoin and crypto.

“If the Biden Administration is serious about sensible cryptocurrency regulation, it needs to nominate a CFTC chairman,” Giancarlo noted.

The U.S. House Committee on Agriculture, a standing committee in the U.S. House of Representatives, subsequently supported Quintenz’s statement. The committee’s official Twitter account argued that crypto is “bigger than the SEC,” and the Congress “needs to write the rules of the road to protect investors and innovation in the digital economy.”

Related: ‘Nakamoto’s innovation is real,’ says SEC Chair Gary Gensler

The new statements apparently come in response to recent remarks by the SEC chairman Gary Gensler calling for increased regulatory oversight of the crypto industry to expand the regulatory scope with decentralized exchanges. Gensler reportedly outlined that there’s been much discussion about what kind of digital assets should fall under the SEC’s purview as the authority previously confirmed that major cryptocurrencies like Bitcoin and Ether (ETH) were not securities.