SpotSpreads partners with Government of Telangana, India for its 1st Web3 Regulatory Sandbox
Updated: Apr 18
At a gathering in Hyderabad earlier this year, the Department of Information Technology, Telangana Government, India, unveiled the first cohort of Web3 Regulatory Sandbox.
In today’s quickly changing technological environment, regulatory frameworks frequently lag behind technological breakthroughs, claims an official press release. In order to assist Web 3.0 develop into a truly ethical, open, and interoperable system with high standards, start-ups have the opportunity to design its norms and regulations in this area, according to the press release.
SpotSpreads is a Crypto Market Maker and Liquidity Provider firm. We deploy proprietary, high-frequency, algorithmic trading strategies for creating more efficient and liquid markets for crypto exchanges, token projects and protocols deployed on L1/L2 chains. Additionally, we work with VC’s and Institutional investors offering our execution and OTC services.
SpotSpreads is incredibly honoured to be a part of this project, and we hope to make the most of this chance to meet the market making and liquidity needs of numerous Web3 organisations. Additionally, it will provide full assistance and collaborate closely with the authorities to design Web 3.0 laws and regulations that will encourage the widespread use of blockchain technology in the nation.
“This sandbox will help create a meaningful dialogue amongst all the stakeholder including regulators, startups, and policymakers to arrive at a nuanced approach in evolving an effective web3.0 framework” said IT secretary Jayesh Ranjan
“We’re very excited to work with the Government of Telangana, India and the rest of the partners, to solve Market Making and Liquidity requirements and build the future of Web3 in India. We are honoured to be a part of this ground-breaking endeavour.” said Shraddha Agarwal, co-founder of SpotSpreads.
Sino Global Capital, Polygon, Bharat Web3 Association, CoinSwitch, Woodstock Fund, and a few more well-known Web3 organisations are also linked to the Sandbox.