India's market regulator says the decentralized nature of crypto assets makes consumer protection and regulatory enforcement challenging. cryptocurrency bitcoin
India’s market regulator, the Securities and Exchange Board of India , says the decentralized nature of crypto assets makes consumer protection and regulatory enforcement challenging.The Securities and Exchange Board of India reportedly told the Parliamentary Standing Committee on Finance that the decentralized nature of crypto assets makes any consumer protection or regulatory enforcement of this asset class challenging.
There is a great likelihood of execution of unauthorized trades not in consonance with any regulatory framework. The regulator explained that there could be more than one regulator for crypto, noting that different aspects of the crypto industry could be overseen by different regulators. A digital currency acts as a bridge between the fiat currency of the foreign jurisdiction and the Indian rupee.
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