India’s crypto sector has welcomed a Parliamentary committee’s recommendation for self-regulation under regulatory oversight. The proposal is intended to provide clearer industry standards and stronger investor protection while a comprehensive legal framework is finalized.

BitMEX will shut down its crypto exchange operations on September 23 after a strategic review by HDR Global Trading. The exchange has asked users to close open positions and withdraw funds before the deadline, while analysts expect limited market disruption due to its low trading share.

India’s Enforcement Directorate is investigating an alleged $35 million Bengaluru crypto scam involving Telegram groups and OTC trades. The accused allegedly built trust through small transactions before collecting larger investments for discounted tokens that were never fully delivered.