Indian state is working to help increase the crypto business

 This step follows the arrest of the founders of the crypto exchange after trying to install kiosks like ATMs in local malls. They include cryptocurrency exchanges and crypto-acceptable traders. One of its Indian ministers has said that a state government is working to protect the businesses operating in India without regulatory framework. ## Innovation Authority Economic Times reported. They are operating in regulatory gray areas; this Karnataka State Government is working on establishing an Innovation Authority with the aim of protecting consumer-friendly technology businesses. India's Social Welfare Minister Priyank Kharge has told. ## Confusion on Unocoin Kiosk This is after the country's central bank after the crypto banking ban; the company will soon return it to a kiosk. That ATM machine was originally marketed as a Unocoin ATM. In October, a machine was installed in the local mall to handle the FIAT deposit and withdrawal for the company to its customers. It is located in the capital of Karnataka, Bangalore. This Unocoin is one of India's largest cryptocurrency exchanges. ## Police questioned the validity of cryptocurrency Kharge mentioned the recently arrested UNOKOON founders. the publication said. It is cementing its point of the need for innovative-friendly policies. In spite of some formal legal proceedings, the entire quarrel came at a quick conclusion. The exchange said that the officials also came to know that we did not violate any law in establishing kiosks. This Unocoin clarified that after understanding the police initiative of our initiative in its original purpose, the situation finally came under control. [images-source](https://news.bitcoin.com/indian-state-cryptocurrency-businesses)