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‘If our regulated markets can’t compete with crypto…’: SEBI chief allays fears of investor migration

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‘If our regulated markets can’t compete with crypto…’: SEBI chief allays fears of investor migration

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With the advent of cryptocurrencies and the growth they are now seeing, traditional market practices are seeing an immediate overhaul across the globe. Earlier this week, Securities and Exchange Board of India (SEBI) Chairperson Madhabi Puri Buch highlighted some key changes to be implemented on a priority basis for traditional markets to retain their investor base. If these changes are not initiated soon, investors may migrate to other options, Buch said. Cryptocurrency. Butch’s statement comes at a time when the crypto sector is going through a boom with BTC trading at $71,733 (roughly Rs. 59.3 lakh) and the crypto market valuation touching $2.71 trillion (roughly Rs. 2,24,25,141 crore).

At an AMFI event on Monday, Buch said that the introduction of features like instant settlement and Tokenization were long overdue in the arena of traditional markets.

“If our well-regulated market can’t compete with the crypto world and say we offer you tokenization and instant settlement in the medium-term, I wouldn’t even say long-term, you don’t have capital. Cars should be expected to move,” Butch said in ceremony.

With an aim to keep investors in the arena of traditional markets, SEBI is gearing up to offer same-day settlement cycle as an optional service from March 28.

“Why should anyone believe that tomorrow if an alternative is available with instant settlement tokenization and they say the regulated market doesn’t offer it… you should expect people to move,” Buch added. Butch added.

This is one of those rare times when SEBI, in its subtle way, acknowledges the boom in the crypto sector and the competition that dominates the markets with crypto.

after the of Bitcoin Started in 2009, more than 2.2 million cryptocurrencies have been circulated. As per CoinMarketCapMore than 700 crypto exchanges are offering crypto services to millions of institutions.

At the moment, several cryptocurrencies including BTC and ETH are chasing new all-time highs. Such as gradual deployment of rules and regulations. MiCA of the EU And G20 Roadmap Monitoring the global crypto industry has been able to increase investor confidence. As soon as the US Approved 11 BTC ETF Proposals This January, investors flocked to trade BTC through traditional exchanges. This has resulted in the current bull run for the digital assets industry.

As for India’s stance on crypto, the SEBI chief’s concerns this week signaled that India is not taking the crypto sector for granted. Despite the continuous demands of RBI A A blanket ban On the crypto sector, the Indian government not only brought crypto to the national level Tax systembut also led the G20 initiative to begin work on crypto rules that would work globally.

For now, India does not accept any cryptocurrency as an alternative to its fiat rupee. However, trading and holding of cryptocurrencies is allowed in the country. Some traders too Accept payment in cryptocurrencies, but the number of such entities is very few.

Cryptocurrency is an unregulated digital currency, not legal tender and subject to market risks. The information provided in the article is not intended to constitute financial advice, business advice or any other advice or recommendation of any kind offered or endorsed by NDTV. NDTV shall not be liable for any loss arising from any investment based on any purported recommendation, forecast or any other information contained in the article.

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