India must leverage G20 leadership to evolve crypto framework

The distinctions between various forms of crypto assets and their legal status remain hazy and uncertain. Today’s securities rules were enacted long before digital currencies were invented. Early stage advancements in financial technology, such as crypto assets, are less developed and resilient, allowing users to circumvent or evade internal restrictions. Furthermore, crypto exchanges can operate as marketplaces, brokers, custodians, and even proprietary asset holders. This can lead to increased risks of conflict of interest, which are difficult to police. In comparison to stock and commodities exchanges, third-party instruments for trading or account surveillance are less available.