🇮🇳 Crypto Dreams Crushed: BSE Says “Not So Fast, Jetking!” 🚫💰

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Oh, India, you saucy minx, always playing hard to get with cryptocurrencies. 🌶️ This time, poor Jetking Infotrain, an IT training company with stars (and Bitcoins) in its eyes, got a big fat “NOPE” from the Bombay Stock Exchange (BSE). Apparently, wanting to be the country’s first listed firm with a crypto treasury is a bit too spicy for their taste. 🌶️💔

So, while the rest of the world is sipping crypto cocktails and toasting to digital asset treasury companies, India’s like, “Hold my chai, we’re not ready for this party yet.” 🎉🚫 Even though Jetking had its party hat on, BSE was the buzzkill, saying, “Sorry, darling, our policy on VDAs is still in the ‘thinking about it’ phase.” 🤔

BSE’s Crypto Cold Shoulder: “Your Bitcoin Strategy? Cute, But No.”

Jetking was all set, with in-principle approval and a board that said, “Let’s do this!” They even raised ₹6 crore, with ₹3.96 crore earmarked for crypto. But BSE was like, “Wait, what? You want to invest in *what* now?” 🤑 And just like that, the application was rejected faster than a bad Tinder date. 💨

BSE’s spokesperson tried to smooth it over, saying, “We were totally going to approve it, but then we thought, nah, let’s just reject it instead.” 🤷‍♂️ Meanwhile, Jetking’s CFO is probably fuming, “But the Supreme Court said crypto isn’t illegal! What’s the tea, BSE?” ☕

Regulatory Grey Area: The Never-Ending Drama

Turns out, India’s legal system treats crypto like that awkward cousin you’re not sure how to introduce. “Oh, this is Crypto, it’s… uh… an intangible asset?” 😬 Without a clear classification, these companies are stuck in a regulatory no-man’s-land, and BSE’s move just added more confusion to the chaos. 🌀

Lawyers are having a field day, saying, “Guys, we need some clarity here!” Meanwhile, banks are like, “Can we even touch this stuff? Or will we get in trouble?” 🤦‍♀️ It’s a mess, and everyone’s just winging it. 🦋

Crypto Treasury Model: Grounded Before Takeoff

BSE’s decision has Indian entrepreneurs clutching their pearls. “Wait, so we can’t be like MicroStrategy or Metaplanet? But they’re so cool!” 😢 And unlike ETFs, which are basically crypto’s cool older siblings, DATs are stuck in detention. 🏫

But hey, India’s legal system is like, “Crypto? More like cry-no, because we don’t know what to do with you.” 😭 Without clearer rules, these companies are stuck in limbo, and FEMA’s like, “You shall not pass!” 🚫

Industry’s Response: “BSE, Stop Being the Fun Police!”

CoinDCX’s CEO Sumit Gupta is not having it. “Globally, 145 companies are living their best crypto lives, and BSE wants to be the party pooper?” 🎉🚫 He’s like, “Jetking did everything by the book, and you still said no? What’s the actual reason here?” 🤨

He even threw shade, saying, “You let loss-making startups raise money, but a profit-generating company with a global model? Nope. Classic India, always late to the party.” 🎈🚪 And he’s not wrong. India’s hesitation could leave it eating crypto dust while others zoom ahead. 🏎️💨

So, what’s next? More uncertainty, more drama, and probably more memes. 🍿 But one thing’s clear: India’s crypto journey is a rollercoaster, and we’re all strapped in for the ride. 🎢🚀

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2025-09-28 19:02