Sebi holds back NFO cryptocurrencies

Sebi holds back NFO cryptocurrencies

Tyagi’s comments came after asset management company Invesco Mutual Fund last month delayed its blockchain fund due to legislative uncertainty, despite Sebi’s approval.

While investing and trading in crypto assets is allowed in India, the laws are still not clear as to how they are regulated and taxed.

Highlights

  • Invesco CoinShares Global Blockchain ETF Fund of Fund (FoF) was the first scheme in India to get approval from Sebi that offers exposure to global companies participating in the blockchain ecosystem.

  • The remarks technically mean that Sebi won’t allow any blockchain or crypto fund till the regulations are clear.

 

The scheme was originally scheduled to open for subscription on 24 November.

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