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Crypto players are in talks to form a new Blockchain Council after IAMAI withdraws from the industry

Following the dissolution of the Blockchain and Crypto Assets Council (BACC) by the Internet and Mobile Association of India (IAMAI), cryptocurrency exchanges and blockchain companies are attempting to form an independent think tank to address sector concerns.

Crypto and blockchain players are in preliminary discussions to form an independent association and are working to find a "common ground." IAMAI dissolved BACC last week due to a 'uncertain regulatory environment.' The association has stated that it would like to use its limited resources for other emerging digital sectors. However, it intends to continue contributing to blockchain segments such as the promotion of Central Bank-issued Digital Currency (CBDC).

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