While reports indicate that India has the highest virtual digital asset (“VDA”) adoption across jurisdictions, we are yet to see any concrete movement on a corresponding regulatory framework to govern the sector and provide legal clarity.Continue Reading FIG Paper (No. 41 – VDA Series 4) Global Crypto Developments: Lessons for India’s Regulatory Regime in 2025.
On August 10, 2018, the Securities and Exchange Board of India (SEBI) published a report (Report) of the High Level Committee under the Chairmanship of Justice A. R. Dave (Retd.) (Committee). The Report has made recommendations to revamp the SEBI (Settlement of Administrative and Civil Proceedings) Regulations, 2014 (Regulations).
As and when amended, this will mark the fourth avatar of the consent process, first introduced by SEBI through a circular way back in 2007 (remodelled substantially in 2012) and then reincarnated as delegated legislation in 2014. The Report has taken into account SEBI’s experience with this mechanism in the past few years as well as evolving market trends.Continue Reading Settling for a Price – The SEBI Consent Mechanism, Version 4.0