The post SEBI vs. RBI: Divergent Views on Crypto Regulation in India appeared first on Cryptomantr Fintech News.
In contrast to the RBI, India’s market watchdog, SEBI, is willing to oversee cryptocurrency trade. However, the RBI believes that private digital currencies constitute a macroeconomic risk. In 2021, the government created a measure that would have prohibited cryptos; nevertheless, the bill Macroeconomic risk. The government created a measure to ban cryptocurrency in 2021, but it has yet to be introduced. Just last year, India advocated for a worldwide framework to control such assets. SEBI advised against creating a single unified regulator for digital assets, but indicated that it might regulate crypto in the form of securities and ICOs. It also suggested that the RBI regulate crypto assets backed by fiat money.
News source : Coinpedia