SEBI chief warns Indian mutual funds on investing in cryptocurrency offerings
Cointelegraph
Published Dec 29, 2021 06:20AM ET
Updated Dec 30, 2021 08:20AM ET
The Chairman of the Securities and Exchange Board of India (SEBI), Ajay Tyagi, urged mutual funds to avoid investing in crypto-related assets as the government considers new cryptocurrency rules. Speaking at a press conference on Tuesday, Tyagi advised firms to refrain from investing in funds linked to crypto assets until there is clarity on the policy and regulatory framework.
While the regulatory environment for cryptocurrency in India is currently murky, the country has already witnessed an exponential rise in its popularity. It's also unclear if crypto investments come with any tax obligations in the country.
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Written By: Cointelegraph
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