In Brief:
- BCCI bans franchises from the Indian Premier League (IPL) from making partnerships with cryptocurrencies and betting platforms.
- The ban would apply for 2022 IPL season.
- The board has also urged Star India to abstain from a partnership with crypto platforms.
The World’s richest cricket board, the Board of Control for Cricket in India (BCCI) issued a notice to IPL franchises that ‘no sponsorship deals with cryptocurrency and betting companies via surrogate measure will be allowed in IPL 2022’.
BCCI clearly indicated that the board wants to keep teams away from crypto-related advertising in the country. Recently, the Indian Government has revealed a cryptocurrency bill for the upcoming winter session to outlaw all ‘private’ cryptocurrencies in India.
In the last season, many franchises from IPL had promoted different crypto exchange platforms such as CoinDCX, Bitbns, and WazirX. Also, teams have also made a deal with online betting platforms like Dream11.
Moreover, BCCI has also urged Star India, Disney owned platform, Disney Star Network, to abstain from making a deal with cryptocurrency and betting companies.
As per the report, BCCI wants to make sure that whether the cryptocurrency sector complies with regulations or not. BCCI officials also revealed in an interview with Insidesport that the organization was “concerned about some of the betting companies advertising via surrogate methods as news platforms or other measures”.
“We will not allow the same in future,” the official added.
