Indian parliamentary panel urges interim crypto self-regulatory body

India’s parliamentary Standing Committee on Finance has recommended that the government introduce an interim framework to oversee the cryptocurrency market, Financial Feed reported. The committee proposed that an accredited self-regulatory organization, or SRO, handle market oversight and maintain investor protection and market order until related rules are put in place. According to the committee, the interim SRO would operate under the supervision of the Reserve Bank of India (RBI) or the Securities and Exchange Board of India (SEBI), with a standard code of conduct covering consumer protection, transparency in platform operations and token disclosure standards. It also plans to conduct exchange reserve audits, require the segregation of client and corporate funds, and set up a system for handling user complaints.