FACE won’t take fintechs involved in cryptos as members

Fintech companies involved in cryptocurrency services will not be able to join Fintech Association for Consumer Empowerment (FACE), the country’s first self-regulatory organisation (SRO) for the sector.

The SRO has decided to exclude fintechs offering cryptocurrency-related services from its membership, FACE CEO Sugandh Saxena told FE. More than 900 fintech firms are engaged in providing services related to cryptocurrencies, as per industry estimates.