Recently, the Security and Exchange Board of India has alleged that they sent their group of researchers to the United Kindom, Switzerland, and Japan to study their local primary coin offering (IOs) and cryptocurrency venture markets. Deputies of the Security and Exchange Board of India reportedly met with financial regulators from all three countries.
Gaining A “Deeper Understanding”
India’s Security regulators are deciding to build a better understanding of cryptocurrency allied technologies and their internal workings, in order to learn how to accurately control the country’s crypto economy.
Apart from this, the Financial regulators of India explained that it had sent researchers to different countries in the past so that they could learn how the authorities in other jurisdictions regulate new or emerging, financial technologies or services.
“Learning A Lot” From Other Regulators
The Security and Exchange Board of India noted that this practice has been very beneficial because as it has learned “a lot from these experiences and the knowledge transfer helps improve the processes within SEBI.”
In the Annual Report of 2017-2018, the financial regulators of India noted that its deputies will meet with Japan’ financial service agency(FSA), the UK’s Financial Conduct Authority (FCA), and Switzerland’s Financial Market Supervisory Authority (FINMA).