🔻Who evaluates crypto players?
In India, there is a 'fit and proper' certificate for crypto companies — but it should be issued not by regulators, but by competitors! ⚠️This creates conflicts of interest and risks for businesses, especially considering the threats of fraud and cyberattacks.
⚡️Vague verification criteria, the need to obtain multiple certificates from different services, and the disclosure of confidential information are the main problems with the new norm.
Experts suggest instead to entrust the issuance of certificates to self-regulatory organizations for transparency and security.
The crypto industry awaits honest and clear rules⭐️
