CoinDCX CEO Flags RBI Fraud Proposals Over Crypto Transfer Risks
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RBI's April 9 discussion paper proposes structural fraud safeguards for digital payments; CoinDCX warns these could slow legitimate crypto-linked transfers and increase user friction, advocating smarter fraud detection over broad caps on account credits. CoinDCX CEO Sumit Gupta urges whitelisting and raising the proposed ₹25,000 delay limit; the exchange also committed ₹100 crore to the Digital Suraksha initiative, signaling CEX investment in security and crypto adoption.
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- RBI fraud proposals drew crypto response as CoinDCX warned of slower legal transfers.
- Sumit Gupta backed safeguards but urged whitelisting and a higher ₹25,000 delay limit.
- CoinDCX said smarter fraud detection works better than broad caps on account credits.
The Reserve Bank of India’s proposed fraud safeguards have drawn a response from the crypto sector. CoinDCX CEO Sumit Gupta said the plan addresses real risks in digital payments. He added that some measures could slow legitimate crypto-linked transfers and increase friction for users.
In an X post on Monday, Gupta responded to the RBI discussion paper, “Exploring Safeguards in Digital Payments to Curb Frauds,” released on April 9. The paper proposed four structural changes to digital transaction processing in India.
His comments came soon after CoinDCX committed ₹100 crore to the Digital Suraksha …
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