As the Indian government deliberates over cryptocurrency regulation, positive sentiment grows among local crypto exchanges regarding their government’s eventual decision. A number of them have also added new features and improved services such as offering interest on crypto deposits, increased liquidity, and better security.
Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive Regulations
Interest on Crypto Deposits
Indian cryptocurrency exchange Coindcx announced last week that its users can now earn interest on their BTC held at the exchange for 30 days or longer, stating:
LCX announced on Tuesday that it has been granted “a business license of the Liechtenstein Ministry of Economic Affairs to conduct its business in Liechtenstein (Gewerbebewilligung).”
Invault, a Shanghai-based startup, has secured a new trust license from the Hong Kong financial regulator to act as a digital custodian in the Chinese special administrative region. It plans to begin offering automated cryptocurrency custodial services in December. It is also said to be in talks with a couple of “mid-sized” insurance companies to possibly add their coverage to its services. 
The Monetary Authority of Singapore (MAS), the country’s central bank, announced on Monday that it has finalized the new regulatory framework for payment services. The Payment Services Bill “will provide a more conducive environment for innovation in payment services, whilst ensuring that risks across the payments value chain are mitigated,” the central bank explained. The bill was submitted to parliament by Education Minister and MAS board member Ong Ye Kung, the Straits Times reported. 
The Financial Services Agency (FSA) held its ninth cryptocurrency study group meeting on Monday. According to the agency’s published meeting materials, one of the main topics on the agenda was a plan to regulate crypto wallet services and their providers. 
