Invesco MF suspends blockchain fund launch in India

Thu 18 Nov 2021 ▪ 15h34 ▪ 2 min read — by Susan McCormack

Invesco Mutual Fund, an Ireland-registered organisation specialising on ETF investments, has suspended its blockchain fund launch in India due to the country’s vague crypto policy.

What are the grounds?

Invesco Mutual Fund was preparing to enter the Indian market, but the latest news made the company suspend the blockchain fund launch set on 24th November 2021, Economic Times reports.

“From the developments of the last few days, Indian lawmakers have been meeting participants in the country’s digital assets industry, which will likely culminate in a new legislative framework being formulated. In light of the above, we believe it is important for investors to fully understand all aspects before making long term investment decisions,” Invesco MF representatives said. 

Indian investors enjoyed the idea of the blockchain fund, as they considered it to be a legitimate way of gaining access to crypto.

Analysts projected the fund to become popular among Indian crypto enthusiasts.

The Reserve Bank of India (RBI) frowns on crypto. RBI Governor Shaktikanta Das is convinced that digital assets jeopardise the country’s economic stability. It seems like a crypto ban is looming.

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Susan McCormack

How many crypto nerds does it take to fork an altcoin? I may be a failed comedian, but crypto is no joke! I want to share my knowledge and help others to see the bright future ahead. #buybitcoin

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.

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