CafeAlt GIFT declines media claims about crypto regulation by IFSCA

GIFT declines media claims about crypto regulation by IFSCA

GIFT City is not considering to regulate crypto as of now.

Team Cafemutual Dec 20, 2024

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The International Financial Services Centres Authority (IFSCA) has denied the claims by various media houses that GIFT City is working on the regulation of crypto currency exchange and the entities involved in tokenization.

Various media houses recently claimed that the IFSCA is set to introduce a regulatory framework in GIFT City in 2025. The news reports said that the Asset Tokenization Committee of IFSCA will release the finalized guidelines after releasing a report on crypto regulations.

IFSCA in a circular said that there is no such move on its part to regulate crypto exchanges, cryptocurrencies or allied virtual assets in the GIFT IFSC.

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