Crypto exchanges draw attention of regulators over brand promotions

According to regulatory sources, the brand promotion could mislead retail investors as the legality of cryptocurrency itself is under the scrutiny of the central government

Topics
cryptocurrency | brand promotion | I-T Department

Shrimi Choudhary  |  New Delhi 

Cryptocurrency exchanges, which are into brand endorsements in the midst of an uncertain future for the industry, have drawn the attention of regulators and tax authorities. According to regulatory sources, the brand promotion could mislead retail investors as the legality of cryptocurrency itself is under the scrutiny of the central government. “These exchanges are self-regulated and do not come under any regulator or authority.

They trade in crypto variants including bitcoin with no legal sanctity. In the absence of a definition and framework, terming and selling it as a ...

Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

First Published: Mon, May 17 2021. 06:10 IST
RECOMMENDED FOR YOU
.