Crypto players plan new industry body as IAMAI dismantles lobby group

Cryptocurrency exchanges and blockchain firms are attempting to cobble collectively their very own unbiased affiliation after Internet and Mobile Association of India (IAMAI) dismantled Blockchain and Crypto Assets Council (BACC) final week in a shock transfer, bringing to an finish an affiliation during which each side had been growing taking divergent stances on key points.

Industry insiders mentioned preliminary talks are on between key stakeholders, however a new affiliation will take time to type as key stakeholders are nonetheless to discover a widespread floor.

The variations between the 2 camps (IAMAI and BACC) had been simmering for a lot of months, with crypto players feeling that IAMAI wasnt doing sufficient to push their trigger, whereas the industry body felt that the crypto players wanted to do extra when it comes to compliance with authorities rules. TMZ.ng