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SEBI chief warns Indian mutual funds on investing in cryptocurrency offerings
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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.
Tyagi's remarks come following the recent event involving an asset management firm (AMC), Invesco Mutual Fund. Despite
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