Kartavya Kant Tiwari

The Board of Control for Cricket in India (BCCI) on Tuesday announced that cryptocurrency firms and real money gaming companies will not be allowed to bid for the Indian national cricket team's lead sponsorship rights. The decision was revealed after the release of the BCCI's new Invitation for Expression of Interest (IEOI), which closes on September 16. Interested parties are required to pay a non-refundable registration fee of Rs. 5 lakh (plus GST) to participate in the bidding process. This Ruling Highlights Rising Regulatory Pressure On Crypto Advertising In India Companies involved in “crypto trading, crypto exchange, crypto token, online money gaming, betting, gambling services, or similar services” are expressly prohibited from applying for the sponsorship rights, as per the guidelines laid down by the BCCI. No exemptions will be given because the restriction also applies to the proxy branding and indirect partnerships with cryptocurrency companies. As a result, the rest...