Has India’s central bank changed its mind about cryptocurrencies? ...Middle East

Quartz - Economy

After years of outright dislike for cryptocurrencies, India’s central bank appears to have had a change of heart.On May 31, the Reserve Bank of India (RBI) told banks and other financial institutions in the country that they should not cite its 2018 circular that barred them from dealing with cryptocurrencies while cautioning customers against virtual coins. The 2018 circular was struck down by the Supreme Court in March 2020, which made it invalid.“It has come to our attention through media reports that certain banks/ regulated entities have cautioned their customers against dealing in virtual currencies… by referring to the RBI circular dated April 06, 2018 (pdf). Such references to the ab

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Last updated : 01 June 2021 clock 08:47 AM

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Has India’s central bank changed its mind about cryptocurrencies? ...Middle East

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