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Indian crypto advocacy body BACC calls on NPCI to restore crypto exchange UPI services

June 18, 2022
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India’s crypto advocacy body Blockchain and Crypto Assets Council (BACC) has written to the National Payments Corporation of India (NPCI), calling on it to restore Unified Payments Interface (UPI) services to Indian crypto exchanges.

The BACC proposed that it hold a meeting with the interbank retail payments and settlement agency to discuss and understand its concerns about cryptocurrency trading.

In the letter, the BACC told NPCI that some crypto exchanges strictly abide by user KYC and other NPCI protocols, and asked them to restore UPI services for such businesses.

It is reported that BACC is a non-profit advocacy organization under the Internet and Mobile Association of India (IAMAI), and its members include local cryptocurrency exchanges CoinSwitch Kuber, CoinDCX, WazirX, etc.

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