Crypto firm CIFDAQ’s crisis peaks as top hands log out
Former executives of companies such as Paytm’s Sanjay Saxena and Jay Hao from crypto exchange platform OKX, who were heading the India and international operations for Indian cryptocurrency platform CIFDAQ, have stepped down.
According to sources aware of the development, the exits come amid concerns around the exchange’s compliance, including the lack of FIU-India registration in India. CIFDAQ’s website claims that it has an active token, CIFD. However, ET found that the token is not available for trading on any of the exchanges or on crypto aggregation platforms such as CoinMarketCap, contrary to the company’s claims.
