CoinDCX sets aside $1 million to aid asset transfers from foreign exchanges

Indian crypto exchange CoinDCX on Tuesday announced that it has earmarked $1 million to facilitate crypto asset transfers for investors from non-Financial Intelligence Unit (FIU) compliant offshore exchanges. The money will be utilised to provide a 1 per cent bonus on deposits made on the platform between January 9 and 18 from foreign exchanges.

“CoinDCX aims to stand in solidarity with the community at a time when users wish to safely migrate their crypto from non-compliant offshore exchanges to FIU-registered entities,” the exchange said.