The company Taurus Kling Blockchain (TKB) IFSC has announced the launch of the country’s first crypto exchange traded fund i.e. ETF. The company claims that, this ETF can come by the end of the current financial year i.e. by March 2022.
So far the government has not been able to make any law on cryptocurrency. SEBI (Sebi) has put a ban on bringing products related to it, but many companies are bullish about it. Now a company Taurus Kling Blockchain IFSC has launched the country’s first crypto ETF (crypto Etf) claimed. The picture is still not clear about the future of cryptocurrencies like bitcoin in the country, but in the meantime another company Taurus Kling Blockchain (TKBIFSC has announced the launch of the country’s first Crypto Exchange Traded Fund ie ETF. The company claims that, this ETF can come by the end of the current financial year i.e. by March 2022.
It is worth noting that before this, similar plans of two more companies have gone into cold storage. Invesco Coin Shares Global Blockchain ETF Fund has received approval from SEBI. Although he himself has postponed its launch. Sachin Bansal’s Navi Mutual Fund has also applied for approval of a blockchain index FoF.
No new fund offers related to crypto should come – SEBI
Let us tell you that SEBI has banned mutual funds from bringing cryptocurrency related products. Markets regulator SEBI has clarified that no mutual fund can invest in any crypto currency product. SEBI wants that until the government makes a law in this regard, no new fund offers related to crypto should come.
So far the government has not been able to make any law on cryptocurrency. SEBI has now banned the introduction of related products, but a company has claimed to have brought the country’s first crypto ETF before March.@sandeepgrover09 @agdinesh #crypto #cryptocurrecy pic.twitter.com/50aiFmNq02
— Money9 (@Money9Live) January 14, 2022
Strictness possible on crypto currencies
A bill regarding crypto currencies is pending in the Parliament, it is being feared that the government can tighten the crypto currencies. Despite this, TKB has claimed to have brought the first crypto ETF in GIFT City, Gujarat. BSE’s international arm India INX and Taurus Kling Blockchain IFSC have done deals for this. He has sought approval from regulators to launch this ETF.
Dinesh Agrahari, Money9