Bitcoin firms form self-regulatory body for transparent growth

Appoint Nishith Desai as advisor to frame norms for all aspects of the business

Bitcoin start-ups Zebpay, Unocoin, Coinsecure and Searchtrade have jointly launched a Digital Asset and Blockchain Foundation of India (Dabfi), with the aim of orderly and transparent growth of the virtual currency market.

The body will work as a self-regulatory organisation (SRO) for this business. And, has appointed Nishith Desai Associates, an international law firm, to develop self-regulation norms for the segment.

A committee for the SRO has been constituted, with the members comprising Sandeep Goenka (Zebpay), Mohit Kalra (Coinsecure), Sathvik Vishwanath (Unocoin), Harish B V (Unocoin) and Vishal Gupta and Rashmit Gupta (Searchtrade).

Dabfi will prepare self-regulatory regimes for trading of bitcoins and