Indian cryptocurrency exchange CoinDCX has significantly bolstered its leadership team by appointing banking veteran Arvind Kathpalia, former President and Group Chief Risk Officer at Kotak Mahindra Bank, to its advisory board.
Strengthening Risk Governance Framework
This strategic appointment underscores CoinDCX's commitment to robust governance and risk management as the cryptocurrency industry moves toward increased regulation. Kathpalia will play a crucial role in guiding the exchange to strengthen its risk governance framework and implement structured approaches to risk assessment.
With his extensive experience spanning multiple leading financial institutions including Kotak Mahindra Bank, Standard Chartered, and ANZ Bank, Kathpalia brings valuable expertise in risk management, technology-led transformations, and operational processes. His guidance will be instrumental in aligning CoinDCX's practices with global standards while the company scales its operations responsibly.
Building on Existing Compliance Foundation
CoinDCX has consistently prioritized risk governance as central to its operating philosophy. The exchange has established several industry firsts, including becoming the first Indian crypto exchange to register with the Financial Intelligence Unit (FIU) under the Prevention of Money Laundering Act (PMLA).
The platform has actively contributed to working groups developing Anti-Money Laundering (AML) guidelines and has established a Crypto Investor Protection Fund (CIPF) to safeguard user interests. Additionally, CoinDCX has undergone third-party audits, demonstrating its focus on consumer protection and regulatory compliance.
Industry Significance and Future Outlook
Kathpalia's appointment represents a notable development in India's evolving cryptocurrency landscape, marking one of the first instances where a seasoned financial services leader will guide a digital assets exchange on governance and risk matters.
Speaking about his new role, Kathpalia emphasized: "CoinDCX is at the forefront of building a safe and transparent digital asset ecosystem in India, at a time when Indians are rapidly recognizing crypto as a future asset class. As the industry transitions towards a more regulated framework, embedding robust risk governance will be critical. I look forward to working with the team to strengthen this foundation and help CoinDCX scale responsibly."
This move comes as the cryptocurrency industry in India anticipates clearer regulatory frameworks, with established financial institutions increasingly engaging with digital asset platforms to enhance credibility and trust among investors.
