SEBI organized Cryptocurrency study tour for Indian authorities

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The Securities and Exchange Board of India’s 2017-18 annual report states that the board had conducted tours for its authorities to study about cryptocurrency. The authorities visited Japan’s Financial Services Agency (FSA), the U.K. Financial Conduct Authority (FCA) and the Swiss Financial Market Supervisory Authority (FINMA) to study about cryptocurrency and ICOs.

The primary objective of this visit was to gain a deeper understanding about the systems and mechanisms by engaging with international regulators. This report came up after RBI’s ban of banks getting involved in crypto related businesses, however the ban is expected to come for hearing on September 11.

It is to be noted that RBI was reported to consider the feasibility of rupee based digital currency.

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