Amid the ongoing discussions on Crypto Regulations in India, the Confederation of Indian Industries (CII) has recommended that Cryptocurrencies should be regulated as "Special Class Securities". According to a report by the CII, they have asked the Government to formulate a dynamic set of securities regulations, specifically to monitor Crypto-assets, given its decentralized nature. CII also expects the Government to create centralized exchanges and custody providers instead of unregulated intermediaries.