investment advisors

SEBI mandate to the registered investment advisors that they should not deal in unregulated products including digital gold.

It is surprising that SEBI has not mentioned crypto currencies like bitcoins because i see advertisements being openly showed on the OTT platform for trading in bitcoins even though there is no regulation currently in place for bitcoins. So if the bitcoins are not officially allowed and it is not a legal tender or a security or a negotiable instrument or currency, then how come advertisements are allowed. There is one advertisement which asks people to deposit as low as Rs.100 in bitcoins and to do SIP in bitcoins. Frankly how many people know the real meaning of bitcoins. Its a dangerous territory and sooner that regulators wake up the better.

Copy of SEBI press release regarding digital gold given below.

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