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India Considers Multi-Regulator Approach for Crypto Oversight

Updated: Jun 26

India might be softening its stance on crypto! SEBI proposes a multi-regulator approach to oversee different aspects of crypto trading.

India's market regulator, SEBI, is proposing a multi-regulator approach to oversee different aspects of cryptocurrency trading in the country.



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India's market regulator SEBI proposes a multi-regulator approach to oversee cryptocurrency trading, suggesting a shift towards more comprehensive regulation.


  • Shifting Stance: This move suggests a more open mind from some Indian authorities towards regulating cryptocurrencies.


  • SEBI's Role: SEBI proposes to oversee cryptocurrencies classified as securities and Initial Coin Offerings (ICOs).


  • RBI's Role: SEBI recommends the Reserve Bank of India (RBI) monitor fiat-backed stablecoins.


  • Regulation for Insurance and Pensions: SEBI suggests involving IRDAI and PFRDA for crypto-related insurance and pensions.


  • Contrasting Views: SEBI's stance differs from the RBI's, which views private digital currencies as a macroeconomic risk.


India's Crypto Journey


  • Tough Stance Since 2018: India has previously taken a strict approach towards crypto, prohibiting financial institutions from dealing with crypto users.

  • Crypto Trading Flourishes Despite Regulations: Despite the restrictions, cryptocurrency trading has remained popular in India.


A Turning Point?


  • SEBI's recommendations could lead to a more comprehensive regulatory framework for cryptocurrencies in India.


Source: CoinDesk

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