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India’s top securities regulator reportedly wants initial public offering (IPO) promoters to divest themselves of any holdings of cryptocurrencies before their companies consider filing for public listings.
According to a Monday report from the Economic Times, the Securities and Exchange Board of India (SEBI) has been informally communicating the message with merchant bankers, lawyers and company executives over several weeks.
No written communication has been formally provided by SEBI, however, several people close to the matter told the Economic Times the communications could be related to India’s planned restrictions on non-state-issued cryptocurrencies.