CoinDCX Offers 1% Bonus To Investors
Indian crypto exchange CoinDCX has allocated $1 million to facilitate crypto asset transfers for investors from non-Financial Intelligence Unit (FIU) compliant offshore exchanges.
The funds will be used to offer a 1% bonus on deposits made on the platform between January 9 and 18 from foreign exchanges.
CoinDCX aims to support users who wish to safely migrate their crypto from non-compliant offshore exchanges to FIU-registered entities.
The move follows the Finance Ministry’s show cause notices to nine offshore crypto exchanges for operating illegally in India and requesting the Ministry of Electronics and Information Technology to block their URLs.
CoinDCX reported a 2000% surge in crypto deposits following the notices, and now offers a 1% bonus on these deposits. The maximum bonus is Rs 10,000 per user.
(With inputs from Shikha Singh)
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