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Investment advisers not to engage in unregistered activities, warns SEBI

 



Now registered investment advisers won’t be allowed to get involved in activities that are not registered. This strict warning has come from SEBI. The activities mentioned here are related to cryptocurrencies. The warning given by the Securities and Exchange Board of India is given because, in India, the crypto industry is still considered non-regulatory. 


What prompted strict warnings by SEBI?


The current strict warnings issued by SEBI to registered investment advisers prohibiting their involvement in unregulated activities came after the authority discovered their involvement in non-regulatory activity in giving provision of a platform for purchasing and selling in products like digital gold which are not regulated. 


According to SEBI, showing involvement in unregulated activity including dealing in digital gold by registered investment advisers is not legal as per Section 12 (1) of the SEBI Act 1992. 


Final words


Stay abreast with more such updates by signing up on the Cryptoknowmics website. Here you can also search for the price updates of alternate coins like Ethereum, Litecoin, Monero, Polkadot, Ripple, BAT, Binance Coin, Tether, by following altcoin news. Besides this, one can also stay abreast with more developments taking place in the crypto world. So keep a tab on the latest cryptocurrency news, and brush up your crypto knowledge daily.


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