The Securities and Exchange Board of India (SEBI) has announced a ban on investment advice pertaining to unregulated instruments, including crypto. In its circular dated 21 October 2021, the Indian regulator said,
“It has come to the notice of SEBI that some registered Investment Advisers are engaged in unregulated activity by providing platform for buying/selling/dealing in unregulated products including digital gold.”
It further claimed that all registered investment advisers need to “refrain from undertaking such unregulated activities.” SEBI also warned that such dealings will attract action under the SEBI Act 1992, in accordance with the provisions of Section 12(1) and the SEBI (Investment Advisers) Regulations, 2013.
This development
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