The Securities and Exchange Board of India may persuade promoters of IPO to drain crypto

Indian security and exchange board again stand against Cryptocurrency by taking another action, They are going to make a rule for the IPO promoters who must sell their crypto before participating in rising funds, this is just because of discouraging from holding Cryptocurrency. if you have cryptocurrency then you may not be allowed to participate in rising funds from the public sector. so the native crypto holders in India will face other difficulties soon.

It’s true that since almost 1 year, Indian authorities are trying to push back all of the crypto holders, At First the Central bank of India took steps against crypto and after that security and exchange board has taken several steps to bar crypto spread out in India. According to lawyers of the security and exchange board, he stated that “There could be a direction from the government in this regard. The market regulator seems to think that this could become a risk for investors if a promoter holds an asset that is illegal in the country.”

If this rigidity will continue towards cryptocurrency in India then a lot of people from there will face a huge threat, because a vast population is already being involved in this platform. Who knows the next consequence of crypto in India? 

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