SEBI Urges Traditional Markets to Adapt Amid Crypto Boom

SEBI Urges Traditional Markets to Adapt Amid Crypto Boom/Reuters

VoM News Desk | March 15, 2024 | 10:30 AM IST | India | Follow on Google News

SEBI Urges Traditional Markets to Adapt Amid Crypto Boom/Reuters

SEBI Urges Traditional Markets to Adapt Amid Crypto Boom

Amid the exponential growth of cryptocurrencies, Madhabi Puri Buch, chairperson of SEBI, calls for urgent reforms in traditional markets to prevent investor migration. Buch emphasizes the need for features like instant settlements and tokenization to compete with the crypto sector.

Closing the Gap: Traditional Markets vs. Crypto

SEBI aims to introduce same-day settlement cycles to offer investors a competitive alternative. Buch warns that failure to provide these features could result in investors shifting to the crypto world, where instant settlement and tokenization are already prevalent.

India’s Crypto Outlook: Regulation and Adaptation

India’s approach to cryptocurrencies reflects a balance between regulation and adaptation. Despite RBI’s calls for a blanket ban, the Indian government has integrated crypto into the national tax regime and spearheaded global initiatives for crypto regulation. While cryptocurrencies are not yet accepted as fiat alternatives, trading and holding are permitted, signaling a cautious yet progressive stance.

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