A formal board comprising eminent jurists, technical specialists and fintech compliance specialists is also being set up to oversee the implementation of the self-regulatory code for crypto exhchanges, a statement said.
Don t cite 2018 circular to warn against crypto investment: RBI to banks freepressjournal.in - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from freepressjournal.in Daily Mail and Mail on Sunday newspapers.
16 hours ago India s Central Bank RBI Confirms Crypto Banking Ban No Longer Valid â Asks Banks to Stop Quoting It
Indian central bank, the Reserve Bank of India (RBI), has officially advised banks that its banking ban circular is no longer valid as it was set aside by the country’s supreme court more than one year ago. Despite the supreme court’s ruling, banks have been citing the RBI circular when dealing with cryptocurrency.
RBI Tells Banks to Stop Quoting Its ‘No Longer Valid’ Circular on Cryptocurrency
India’s central bank, the Reserve Bank of India (RBI), issued a notice on Monday clarifying its position regarding cryptocurrencies. The notice, entitled “Customer Due Diligence for transactions in Virtual Currencies (VC),” aims at “all commercial and co-operative banks, payments banks, small finance banks, NBFCs, and payment system providers.”
The Reserve Bank of India Monday issued a clarification around Bitcoin and cryptocurrency trading, informing banks that they cannot warn customers against trading, using an old order.