Sebi open to oversight of cryptocurrencies trade, in contrast to RBI

India’s market watchdog has recommended that several regulators oversee trade in cryptocurrencies, documents show, the strongest signal to date that at least some authorities in the country are open to allowing the use of private virtual assets.

The position of the Securities and Exchange Board of India (Sebi) contrasts with that of the Reserve Bank of India (RBI), which maintains that private digital currencies represent a macroeconomic risk, separate documents show.