India, 20th June 2023: CoinSwitch, one of India’s largest Virtual Digital Assets / Crypto trading platform, has been conducting multi-city awareness and knowledge-sharing sessions on blockchain technology and VDAs for law enforcement officials (LEAs) as its doubles down on its “safe crypto initiative”. The exercise, helmed by the organization’s legal and policy teams, has so far conducted 11 sessions, training more than 750 officials from various law enforcement agencies and tax officials across eight States.
“Addressing the current knowledge gap in VDAs is a necessity to build a transparent and trustworthy VDA ecosystem in India. Our collaboration with LEAs and other stakeholders on such knowledge-sharing sessions help to move the needle forward in establishing assurance and confidence, as well as helping VDA investors in India,” said Ashish Singhal, Co-Founder and CEO, CoinSwitch.
“We are grateful and sincerely appreciate the enthusiastic involvement and insightful contributions of all the officials; their presence makes these sessions highly productive,” he added.
“Having participated in the legal and regulatory developments for emerging technologies for the past 2 decades, I firmly believe that a country can only embrace and succeed in this ever-evolving tech space if one of its most critical pillars, i.e. law enforcement agencies, are fully equipped to keep the technology safe and secure from nefarious activities. I am fascinated to see a great deal of curiosity from the officers and their existing level of understanding. These sessions have served as an effective platform for conversations around aspects of blockchain technology and VDAs, covering a wide range of topics, spanning the fundamentals of blockchain and VDAs to the evolving future of Web3, various investigation tools, and application of investigation and digital evidence jurisprudence” added Ashish Chandra, General Counsel, CoinSwitch.
CoinSwitch recently launched a campaign called #NoFraudSquad to empower users in recognizing activities such as counterfeit web domains and phishing attacks. Over the course of three days, the campaign garnered an impressive response, with users flagging more than 1500 entries and 32 fake domains and social handles were taken down.
