The Securities and Exchange Board of India recently issued an advisory, forbidding registered investment advisers from engaging in unregulated activity, such as providing platforms for dealing in unregulated products, or otherwise facilitating such trades. While assets like cryptocurrency and non-fungible token (NFT) do fall into this category, the regulator specifically mentioned digital gold. However, unlike cryptocurrencies and NFTs, digital gold consists of assets backed by the physical metal. In this context, our
lead editorial notes that the regulator should be looking to remove the grey areas. Concerns like quality of assay and security of storage can be easily met, given that all the entities in the segment are well-known.
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Nitin Desai lists what the COP26 should be looking to achieve. For instance, credible commitments for providing finance for energy transition and adaptation where and when it is needed.
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It makes sense for the government to decriminalise people in possession of small quantities of drugs for consumption in line with the UN resolution, notes our
second editorial.
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“Audit failures usually arise when the independence of the auditor is compromised, or the auditor lacks competence.”
RBI Governor Shaktikanta Das
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