SEBI chief warns Indian mutual societies to invest in cryptocurrency offerings Cointelegraph
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The chairman of the Securities and Exchange Board of India (SEBI), Ajay Tyagi, called for mutual funds to prevent investment in cryptocurrency-related assets while the government considers new cryptocurrency rules. Speaking at a press conference on Tuesday, Tyagi recommended companies should refrain from investing in funds associated with cryptocurrency assets until they have clarified their policy and regulatory framework.
Although India’s current cryptocurrency regulation environment is bleak, the country has already seen an exponential rise in its popularity. It is also unclear whether cryptocurrency investments have tax obligations in the country.
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