India’s SEBI recommends local regulators to monitor crypto trading
Documents reveal SEBI’s recommendation for distributed regulatory oversight of cryptocurrencies in India.
The Securities and Exchange Board of India (SEBI) has suggested that multiple regulators should oversee cryptocurrency trading in the country, according to recently disclosed documents seen by Reuters.
The documents suggest that a division within India’s financial authorities should handle the regulatory oversight. In a separate document, the Reserve Bank of India (RBI) argued that digital currencies pose a macroeconomic risk to the country.
Government officials submitted the documents to a panel tasked with advising the country’s finance ministry on policy, said Reuters.
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Author: Ana Paula Pereira
