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.
“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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