Reserve Bank of India’s (RBI) deadline given to banks to snap the ties with entities that cope with crypto currencies finally ends. Ever since the ban was obligatory, there was sentiment that the crypto currency market can survive the RBI ban.
If you read the RBI circular, they have never used the words “ban” pertaining to bitcoins. it has solely prevented any organisation regulated by the central bank to cope with businesses that have something to do with crypto currencies. Moreover, this means banks will ought to stop transactions to and from Indian rupee on crypto exchanges. This news spread like a wild fire and was perceived as a “ban on bitcoin” which isn’t true.
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Apart from this, the RBI has issued many warnings regarding scams and risks involving crypto currencies. It had additionally aforementioned there would be a suppression on the unlawful use of such cryptos.
Ahead of the suppression, some exchanges, such as International Digital Asscontinue reading