Bitex becomes first crypto exchange to provide investment disclosures

Cryptocurrency exchange Bitex has announced that it has started providing investment declaration reports for all its retail and institutional investors, becoming the first exchange in India to comply with the recent amendments made to the Companies Act 2013 by the Ministry of Corporate Affairs.

The government in March had made it mandatory for Indian companies, unlisted and private, to disclose their dealings in cryptocurrency or virtual currency.

Founded in 2018, Bitex started its operations in the United Arab Emirates and is now expanding its operations in India. The exchange’s current daily volume is about $2.5 million with 35,000 users.