The Blockchain and Crypto Assets Council’s (BACC) participants including top cryptocurrency exchanges like CoinSwitch Kuber, WazirX, and CoinDCX, have written to the NPCI. It has reportedly asked the UPI governing body in a letter to restore UPI services for crypto players.
Emails sent to BACC, IAMAI, and NPCI went unanswered until the report was published. According to an ET report, the platforms, as part of BACC, have requested a meeting to discuss the regulator's concerns about UPI usage for cryptocurrency trading. "We requested some time with the NPCI to understand their reservations and to present our point of view to clear up any misunderstanding," the report stated.