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India Hopes To Study Regulation In Other Countries For Research Purposes

The Securities & Exchange Board of India (SEBI) is the governing body that’s responsible for all the financial regulations in India. Recently it was heard, this apex financial regulator of India has organised a tour in other countries as part of a research assignment for its officials. The aim behind is to help officials learn more about cryptocurrency and ICO (Initial Coin Offerings).


SEBI’s annual report of 2017 – 18 informed us that the officials of this governing body have already begun their study tours to learn more about cryptocurrency and ICOs at Swiss Financial Market Supervisory Authority (FINMA), the U.K. Financial Conduct Authority (FCA) and Japan’s Financial Services Agency (FSA).


In the annual report, SEBI revealed that its authorities attempted the study tour with an aim to enhance engagement with international partners and furthermore to gain the in-depth understanding of the systems and mechanisms. The report also uncovers that SEBI has made the most out of the experiences. This knowledge transfer proved to be helpful in improving the processes within SEBI.


SEBI also organised a similar study tour last year, which saw its authorities travelling to the Securities & Futures Commission in Hong Kong and Monetary Authority of Singapore (MAS) to study surveillance capabilities, mechanisms and responsibilities in those jurisdictions. They also travelled to the Securities & Exchange Commission (SEC) in the USA to understand Early Warning Systems. Financial Conduct Authority (FCA) in the UK and the Australian Securities & Investments Commission (ASIC) to understand migration to fee-based advisory model.


With that said, one thing is sure that cryptocurrency is still new and so as the regulatory approach towards it. But Yes, SEBI is pre-planned to get a better understanding of this ecosystem to drive its activities around the technology. And, that we can expect that something is interesting, we are about to see in the coming time.