June 7, 2023

Great Indian Mutiny

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The Supreme Court of India has called on local crypto exchanges to place clear warnings on their trade

In the middle Current regulatory uncertainty of cryptocurrencies in India, A High Court in the capital of the country Steps are being taken to control the advertising of local crypto transactions.

The Delhi High Court sent notices to local authorities and crypto companies Implementing guidelines for promoting cryptocurrency transactions on national television; Announced Wednesday on the New Indian Express.

Court seeks answers from Securities and Exchange Board of India (SEBI), Ministry of Information and Broadcasting, as well as major Hindu crypto exchanges, It aims to discuss this issue in August, including CoinDCX and WasirX.

According to the report, Lawyers Ayush Shukla and Vikash Kumar have urged the court to file a petition to the CBI Provide advertising guidelines Crypto Audiovisual ads include a disclaimer covering 80% of the screen, With voice over reading lasting at least five seconds.

The petitioners alleged that there were numerous crypto advertisements on national television Do not add voicemail, When the disclaimer text is displayed briefly And lowercase letters, It usually has such a line “Cryptocurrency is an unregulated digital currency that is not a legal tender and is subject to market risks.”

Report, According to the court report, crypto assets are inherently more risky than traditional investment products in stocks, mutual funds and other investment instruments, thus requiring additional measures to ensure the safety of investors. “An ordinary retail investor who watches audiovisual advertising on online websites such as television and YouTube will face huge losses as a result,” the court noted.

The news comes at a time when India is coming The country is still struggling to create clear rules for the crypto industry, Because of the alleged anonymous government sources Continue fears about the upcoming cryptocurrency ban. Despite regulatory uncertainty, India has domestic investments 600% increased In the last year.

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