Zerodha says it will not allow Cryptocurrency Trading without RBI, SEBI Approval

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The CEO of one of India’s largest stock brokers Zerodha Nithin Kamath has said that Zerodha has no plans to offer cryptocurrency trading until SEBI and RBI explicitly allow their intermediaries to deal in crypto. He also added that he is personally not associated with Bitcoin or any cryptocurrencies. Nithin confirmed this during a chat over the latter’s platform TradingQnA. He added that there is a huge risk of regulatory lashback if companies start getting associated with cryptocurrencies. While Zerodha's point of view is understandable, it gives existing Indian crypto exchanges more time to consolidate their position and onboard many first time Indians into crypto!

References:

Impossible to Allow Crypto Trading without SEBI, RBI Approval says Zerodha CEO: https://coincrunch.in/2020/05/29/crypto-trading-impossible-without-rbi-sebi-approval-zerodha-ceo/

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