CoinDCX, a cryptocurrency exchange, has announced updated terms of use for Indian users effective from February 7, 2025. These changes ensure compliance with local laws and provide greater transparency for users.
Terms and Indian Jurisdiction
According to the announcement, any disputes arising from the use of CoinDCX's services will be settled in India. Users are no longer required to seek legal recourse in foreign courts, now it will be handled under Indian jurisdiction.
Dispute Resolution Process
CoinDCX stated that any claims will first go through mutual negotiation. If the claim is not resolved within 10 working days, it will proceed to binding arbitration in Mumbai. All procedures will remain confidential unless required by law.
Regulation and Advisory
CoinDCX operates under Neblio Technologies Private Limited, and is registered with the Financial Intelligence Unit of India. The company adheres to the Information Technology (Intermediaries Guidelines and Digital Media Ethics Code) Rules, 2021. Users are advised to consult with professional advisors before making financial decisions.
The introduction of new terms by CoinDCX aims to enhance transparency and comply with local requirements. Users are strongly encouraged to seek professional advice when making significant financial decisions.
