Are Crypto ETFs permanently stopped on Vested?
Any timelines when they will be available for buying again?
Hi @Ritesh_Quantum_306, yes due to a recent regulatory update from IFSCA, the GIFT City regulator, we have stopped fresh purchases. If/When there is a change in regulation we can re-enable. Existing holdings can continue to be held or be sold whenever needed.
Below is the update we sent out. Here is a link to the circular for reference: International Financial Services Centres Authority
Thanks for the reply. But this is really disappointing news. I know you can’t do anything you are just following regulations.
What about the treasuries and mining companies?
If you arent licensed under this framework why would you preemptively comply to this regulation? These are the most succesful ETFs ever. Its a shame. I wonder if other platforms will follow suit.
Hi @Viram_Shah , in the email you mentioned that Vested will “intend to get license shortly” and then you mentioned when the regulation change you will enable so no BTC ETF as well on Vested, so you are not going towards getting the license? Also, you can stopped BRK.A buying of this stock completely on your platform, plus you few months back you increased your US stock buying/selling fees as well and now when we deposit money to Vested wallet, we need to pay so high transaction fees as well and not talking about the withdrawal fees yet, but what is happening, you’re not leaving a piece or place to discontinue features which used to benefit users in the past. just money making pathways, plus i am not even talking about the engineering bugs that happen so frequently that gets impacted to real customers, dev/staging = production?
We totally understand the disappointment, unfortunately not much we can do at this point since we do intend to get licensed under the GIFT Global Access framework. Hopefully this can change after some time.
Direct stocks and our Cryptocurrency Vest (which holds underlying crypto-exposure companies) still continue to be available @Aditya_Ace_737
Highly disappointed, you should get the licence thing done asap else it would not add any value to use Vested.
Hi @Yeddula_Ace_646
The regulation applies to all platforms in India that offer access to Global Markets via GIFT’s Global Access framework. As we intend to get licensed and adhere to Indian regulations under this framework, we would be unable to provide Crypto ETFs on our platform, unless there is a change in regulation for these securities.
Yes i understand, but the USP of vested is taking exposure via crypto etf’s, you should really get the licence thing clear asap and bring back crypto etf’s.
It’s not Vested Finance fault in halting the Trade but it’s our Government who is creating rucus with regards to Crypto Currency.
Our Government doesn’t want to regulate Crypto but wants to ban and charge hefty taxes in Crypto Currency tokens and now new ammendment on ETFs too.
I have sold out my Crypto ETFs last night bcz it’s not use blocking the funds in Crypto Currency ETFs until it’s regulated and going live. I shifted my funds to other US based stocks ETFs.
I am with Vested Finance for their actions, hope they bring back it to live. Then I will reinvest.
Can you provide the list of ETFs blocked?
@RAJAT_Zenith_685 You can find the notice and list of ETFs here: Notice on Crypto ETF Investments for Indian Residents
Seems we can’t do anything about it.
Even the platforms like CoinDCX in India are not regulated. Who’s to say if they get banned too.
The only options are either forget about Cryptocurrency or move your tax residency to another country.
ritesh or anyone else in the forum.can we invest in proshare s&p 500 short etf. i hope there is no regulatory problem thereor inverse bond or nividia short etf