Paul Grewal, Chief Legal Officer at the Major Crypto Exchange Coinbase, met this week with Prianank Kharge, the IT minister of the Karnataka state of India, while the US -based crypto exchange aims to expand its role in India’s growing digital infrastructure.
The public thanked Grewal to Kharge for a Wednesday X Postthat says he is “excited to explore how Coinbase The Karnataka’s tech leadership may even support. “He said support could include developer tools, cooperation of cybersecurity and capacity development programs
“The future is onchain – and it is built here,” Grewal said.
In a separate Wednesday X post, Kharge said he met the Coinbase team to “discuss their developer platform.” He said the platform was “helping to simplify the development of the blockchain and enabling developers to develop onchain applications with ease.”
The minister also noted that he discussed the potential cooperation of cybersecurity with Coinbase, as well as the company that shared expertise with the local government. He said they discussed training programs and development capacity, as well as incubation, and the possibility of hackathons in the future. “
Related: Why does India investigate Binance in crypto loopholes?
Karnataka government planning to adopt a blockchain
Kharge said Karnataka’s government is “keen on exploring” blockchain technology for management and digital public infrastructure as technology is gaining traction worldwide.
The meeting arrived at the heart of Coinbase’s push to expand its services to the governments. In an announcement in mid -March, the company said this Helping governments engage in cryptocurrencies.
This is not the first time the government of the Karnataka state recognized the blockchain. In July 2017, local Authorities arranged a seminar with Blockchain and Bitcoin.
Kharge said in an x (then twitter yet) Post By the time the seminar aimed at conveying a better understanding of the blockchains applied to Management and Bitcoin (BTC). He also said that, if necessary, it will also lead to new policies.
Related: Indian crypto users can ‘strain’ policy transfer in the middle of demand mounted
Coinbase aims for a return to India
India has a history that has become an aggressive environment For the cryptocurrency industry. However, the policy seems to be emerging, with reports in mid -February indicating that Coinbase is in discussions with Indian regulators like this Considering —aid the return to the market.
Coinbase asked local users to withdraw funds In late 2023, saying that all Coinbase’s retail services will stop in India. The exchange faces issues with Indian regulators, and in April 2022, it The United Payment interface was halted In the country only three days after the local Launch.
Growing up too Join The United States-India Business Council (USIBC) Global Council in early February, with the president of the organization said that his “finisch leadership and digital asset space” would be important.
The report also came after Crypto-Systems Oversight, Innovation, and Strategy (Coins) Act was announced last month to Introduce a legal plan It supports a clearer, led by the industry environment for crypto in India. Coins remain a law that does not bind with no legal effects unless they are formally introduced and passed by Parliament.
Cointelegraph reached the Coinbase, but did not receive a response by publishing.
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