India’s largest cryptocurrency exchange CoinDCX has no immediate plans for a public listing as the regulatory environment in the country remains uncertain.

CoinDCX has no roadmap or specific terms and conditions for completing a potential initial public offering (IPO), the company told Cointelegraph in an official statement Dec.

“Every growing company strives to create the IPO roadmap in good time. At CoinDCX, we have similar goals. We would like to point out again that there are no immediate plans to announce an IPO in the near future, ”said a spokesman.

The latest announcement complements the statement made by CoinDCX co-founder Neeraj Khandelwal, who said today that CoinDCX will seek an IPO “as soon as the government or the situation allows”. Khandelwal said in an interview with Bloomberg that CoinDCX will decide on an “exact schedule” depending on upcoming government regulations.

A spokesman for CoinDCX emphasized that the focus of the interview with Bloomberg was “the discussion of the regulatory framework in India for the introduction of the crypto law into parliament”.

CoinDCX is one of the largest crypto companies in India. In August, CoinDCX raised $ 90 million in a Series C funding round, becoming the first crypto company in India to achieve unicorn status.

According to local reports, Indian Finance Minister Nirmala Sitharaman announced on November 29th that the government had no plans to recognize Bitcoin (BTC) as a currency. She also noted that the government does not collect data on Bitcoin transactions.

Related: Experts have spoken about where India’s ban on “private cryptos” will lead

The latest news follows years of uncertainty surrounding crypto regulation in India as the industry remains unregulated after India’s central bank attempted to ban cryptocurrencies in 2018. Earlier this year, several sources believed to be affiliated with the government voiced concerns about an impending crypto ban that the Indian government was planning to impose a total ban on cryptocurrencies.

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