CIFDAQ, a rising Indian cryptocurrency exchange, is facing serious compliance-related challenges as top executives including Sanjay Saxena (formerly of Paytm) and Jay Hao (formerly of OKX) have stepped down from their roles overseeing its India and international operations. Key among the concerns is that CIFDAQ has not secured registration with FIU‑India, despite making claims of having an active token called CIFD—claims which, upon review, showed that the token is not tradable on major listings like CoinMarketCap and many exchanges. The company says the resignations are for “personal reasons,” and that it is resubmitting its registration with FIU‑IND before planning to launch services in India. Employee grievances have also surfaced over delayed salary payments
Meanwhile, in Sri Lanka, Bybit and Tether have teamed up with Ceylon Cash to roll out a social media content creation challenge named “Voices of the Island”. The initiative invites Sri Lankan creators to share original content across formats like videos, memes, reels, and blog posts, highlighting real‑life experiences with digital assets like USDT, the Bybit Card, and crypto’s role in daily life. Prizes include 1.5 million LKR in rewards and tech‑gadgets like a PlayStation 5. The effort is part of a broader push for financial inclusion, education, and public awareness around stablecoins and crypto accessibility.
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