Reserve Bank of India Bans All Indian Banks and FIs From Handling Cryptocurrency

Posted by Joachim Bartels | May 1, 2018 | Bitcoin, Cryptocurrency, Digital Currency, India, Regulatory News, Reserve Bank of India | 0 |

The Reserve Bank of India (RBI) strikes cryptocurrency again. This time India’s central bank issued a statement today banning all entities that fall under its regulation, from dealing with any cryptocurrencies.

RBI has a long-standing distaste for all cryptocurrencies, including the best-known bitcoin. It released its first warning to investors against crypto in 2013, according to a CoinDesk article.

Of course, India is not the only country whose authorities have released repeated cautions and warnings against the phenomenon. Many others, including the U.S. authorities, have cautioned investors on potential dangers of dealing with cryptocurrency.

Source: Bank Innovation

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