Crypto exchanges draw attention of regulators over brand promotions

According to regulatory sources, the brand promotion may mislead retail traders because the legality of cryptocurrency itself is beneath the scrutiny of the central authorities

Topics
cryptocurrency | brand promotion | I-T Department

Cryptocurrency exchanges, that are into brand endorsements within the midst of an unsure future for the trade, have drawn the attention of regulators and tax authorities. According to regulatory sources, the brand promotion may mislead retail traders because the legality of cryptocurrency itself is beneath the scrutiny of the central authorities. “These exchanges are self-regulated and don’t come beneath any regulator or authority.

They commerce in crypto variants together with bitcoin with no authorized sanctity. In the absence of a definition and framework, terming and promoting it as a …

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First Published: Mon, May 17 2021. 06:10 IST

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About the Author: Daniel