The regulator for the securities market in India Securities and Exchange Board of India (SEBI) is taking a keen interest in cryptocurrency trading and its modus operandi. In the latest update, it is revealed that SEBI had organized international tours for its officials to study about initial coin offerings (ICO) and virtual currency. The grand announcement came through their 2017-18 annual report which has shown a positive impact on the crypto market. Investors and traders are indeed delighted with the news.
According to Coin Telegraph, the senior authorities have planned a study tour of Japan’s Financial Services Agency (FSA), Swiss Financial Market Supervisory Authority (FINMA) and U.K. Financial Conduct Authority (FCA) for a better understanding of cryptocurrency trading. In addition to this, it mentioned that the abroad study trips have helped the senior officials to connect with the international regulators and also gain a better understanding of how it is operated.
Despite the ban government agencies have been taking quite a lot of interest in the cryptocurrency trading. In fact, Reserve Bank of India (RBI) has also constituted an inter-departmental committee to find out its utility and impact in Indian payment system. Also, their annual report has drawn attention to the various cryptocurrency exchanges which are operating smoothly focusing on countries like South Korea and Japan as they have a huge stake in the crypto asset market. (Via BC Focus)
How Indian Government Plans To Tackle Crypto Trade
The Indian government has been making efforts in finding a right approach towards the apt regulatory norms. The government has already formed a committee for the desired job which is headed by Secretary in the Department of Economic Affairs, Subhash Chandra Garg. The final draft of the cryptocurrency trading norms is likely to come out by the end of this year.
Stay tuned to find more updates on cryptocurrency trade, price, and ICO.
The post SEBI Organize Tour For Officials For Studying Cryptocurrency Trading And ICO’s appeared first on OWLT Market.
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