Are Coin SIP's going to be removed as part of SEBI's recent announcement?

[Nathiarasan]

SEBI bans pooling of money and mutual fund units by online platforms and brokers. Money should be credited/debited from investors account directly. Becz of this coin SIP feature will be removed in future? only AMC SIP’s will be supported?

Reference: SEBI Bans Pooling Of Money And Mutual Fund Units By Online Platforms And Brokers

[Nathiarasan]

@nithin @faisr Any update to Coin becz of this?

[TradeXMaster]

Probably there will be change in their mechanism.
Also I think even the money will be credited to your bank account directly when you redeem it. (Currently it’s credited to trading account and the broker has this money for a period of time.

[ShubhS9]

@Nathiarasan, answered here:

SEBI bans pooling of MFs by MFs

Currently, the money in the trading account can be used to purchase MF, but this will have to change to moving money from the bank account directly. A few things that can get affected is the easy start/stop SIP or step-up SIP, we will now have to rely on the AMC SIPs. We are still waiting for some clarity around this.