Why Sebi’s regulatory ambit could boost India's crypto industry
Indian crypto market is brimming with potential, with several decentralised homegrown projects taking off and building impact. However, an ambiguity around regulations has got all private players in the Web3 space tiptoeing around real use cases. The adoption rate might be high as compared to many other countries but given the percentage of the cell phone ownership rate and internet penetration, it could be much higher with clear regulatory guidelines set by the government. Here's why bringing cryptocurrency under the purview of the Securities and Exchange Board of India (SEBI) could be a game-changer.
SEBI's Proven Track Record
SEBI has been a cornerstone of India's financial stability for the past quarter-century. Its achievements include:
- Market Regulation & Investor Protection: SEBI established robust frameworks for stock exchanges, mutual funds, and other instruments. This experience in safeguarding market integrity and protecting investors can be replicated for crypto as well and is very much a need of the hour
- Technological Advancements: SEBI introduced electronic trading platforms, streamlining processes and increasing efficiency. This adaptability bodes well for regulating a fast-evolving sector like crypto. It can also solve various challenges such as fiat on ramp, on-chain fund transfer, etc.
SEBI has always worked towards creating a market that isn’t too stringent for its participants while also ensuring efficiency, security, and order. In the regulatory regime, SEBI has always strived towards
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