India's markets regulator suggests multiple authorities oversee cryptocurrency trading
India's Securities and Exchange Board has recommended that oversight of cryptocurrency trading should be divided among several regulators, including the Insurance Regulatory and Development Authority of India and the Pension Fund Regulatory and Development Authority. The suggestion was made to a government panel tasked with formulating policy for the Finance Ministry to consider. The Reserve Bank of India remains in favour of a ban on stablecoins, according to a person with direct knowledge of the panel's discussions. India's crypto policy has largely been in the hands of the Finance Ministry, which has refused to say whether crypto is legal or illegal in the nation, while imposing stiff taxes on the industry.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Meta Shatters Records with AI Innovations, Stocks Soar
Rising Star or Black Hole? Toncoin Faces Network Congestion as New Game Launch Looms
Crypto Investor Transforms $1,300 into 195,000% Profit – Is Insider Trading at Play?
Bitdeer completes testing of energy-efficient SEAL02 mining chip