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India’s Securities Regulator Warns Advisers Against Dealing in Unregulated Assets
SEBI cautioned investment advisers to not deal in unregulated assets, including digital gold.
The Securities and Exchange Board of India (SEBI), the country’s top securities regulator, issued a notice to advisers on Thursday warning them not to deal in assets that are not regulated in the country.
- SEBI said it would take action against any investment adviser dealing in unregulated assets, including digital gold. Cryptocurrencies are also considered unregulated assets.
- The notice comes on the back of recent comments from the CEO of India’s newest crypto “unicorn,” CoinSwitch Kuber, that the government and regulators are in talks with crypto companies for a plan to regulate the industry.
- The Indian government has seemingly relaxed its plans to ban crypto outright, and is now looking to regulate its use in illegal transactions.
Read more: India’s Securities Regulator Wants IPO Promoters to Sell Crypto Holdings: Report
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Parikshit Mishra
Parikshit Mishra is CoinDesk's Regional Head of Asia, managing the editorial team in the region. Before joining CoinDesk, he was the EMEA Editor at Acuris (Mergermarket), where he dealt with copies related to private equity and the startup ecosystem. He has also worked as an Senior Analyst for CRISIL, covering the European markets and global economies. His most notable tenure was with Reuters, where he worked as a correspondent and an editor for various teams. He does not have any crypto holdings.
