Invesco MF delays blockchain mutual fund citing regulatory uncertainty

Invesco Mutual Fund (MF) has decided to delay the launch of its much-anticipated blockchain fund because of regulatory uncertainty.

"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," the fund house said in its press release.

The Reserve Bank of India (RBI) has recently raised concerns on cryptocurrencies and the government is also expected to come up with regulations around cryptocurrencies. The blockchain technology is used in cryptocurrencies, as well as it is seeing growing importance in providing safe passage for digital transactions and in cyber security.

Cryptocurrencies also known as crypto tokens have become quite popular among Indian investors recently due to the staggering returns they have delivered.