🔥Hot off the press! India's markets regulator, SEBI, suggests a multi-regulator approach to oversee crypto trade, differing from RBI's stance favoring a stablecoin ban. SEBI could monitor securities-like cryptos & ICOs, while RBI could handle fiat-backed assets like stablecoins. Insurance & pension-related virtual assets? IRDAI & PFRDA could take the reins there. 🐎
Meanwhile, crypto investor grievances could fall under India's Consumer Protection Act. All this while the nation is in the midst of elections, with results due June 4. 🗳️
Despite the Finance Ministry's silence on crypto's legal status, signs of a credibility shift are emerging. Over 46 crypto-related firms registered with the financial intelligence unit last week, signaling a potential policy shift. 🚀
What's your take on this multi-regulator approach? Drop your thoughts below! 👇 #CryptoNews #IndiaCrypto
Note: This is a summary of news, not financial advice. Always do your own research.