Indian Central Bank: Bitcoin Isn’t Authorized, Use with Caution
With a public statement, India’s central bank, the Reserve Bank of India (RBI), has – once again – said it has not authorized any use of virtual currencies like bitcoin among companies or individuals in the country. In a public release on its website, the RBI has stated: The Reserve Bank of India advises that it has not given any licence / authorization to any entity / company to operate such schemes or deal with Bitcoin or any virtual currency. As such, any user, holder, investor, trader etc., dealing with virtual currencies will be doing so at their own risk. India’s financial regulator....
Related News
The Indian government is consulting with the Reserve Bank of India (RBI) on crypto policies. According to the finance minister, the government and the central bank are in “complete harmony” on crypto and other issues. Indian Government and Central Bank Discussing Crypto Policies Internally Indian Finance Minister Nirmala Sitharaman revealed Monday that the government is discussing crypto policies with the central bank, the Reserve Bank of India (RBI). At the conclusion of the RBI’s board meeting, the finance minister told reporters that the government and the central....
Prominent Indian bitcoin startup Unocoin has raised a national record-setting $1.5 million in a Pre-Series A funding round from a group of international and Indian venture capital funds. The funds were raised from Indian investors Blume Ventures, Mumbi Angels, ah! Ventures, and international investment firms Bitcoin Capital, Bank To The Future, Digital Currency Group, Boost VC and FundersClub. According to Unocoin CEO, Sathvik Vishwanath, “India has the largest gold, inward remittance, and IT markets in the world, all of which make it a perfect home for bitcoin and blockchain technology.”....
India’s central bank, the Reserve Bank of India (RBI), has reportedly told the central board of directors that it favors a complete ban on cryptocurrencies, stating that a partial ban will not work. The central bank reiterates that it has serious concerns regarding crypto. Meanwhile, the Indian government is reportedly making additional changes to the crypto bill. RBI Wants a Blanket Ban on Crypto, Says a Partial Ban Won’t Work The Reserve Bank of India (RBI) held the 592nd meeting of the central board of directors Friday under the chairmanship of Governor Shaktikanta Das.....
The Indian government has told parliament that it does not have a plan to issue cryptocurrency to be regulated by the central bank, the Reserve Bank of India (RBI). The government also clarified that India’s central bank digital currency (CBDC), that the RBI will launch this financial year, is “a digital version of traditional paper currency.” Indian Parliament Asks Government About ‘RBI Cryptocurrency’ The Indian ministry of finance answered some questions Tuesday in Rajya Sabha, India’s upper house of parliament, regarding “RBI....
Several Indian banks have reportedly halted services to customers dealing in cryptocurrencies despite the central bank, the Reserve Bank of India (RBI), informing them that the banning circular is no longer valid. The latest bank to join the fray is IDFC First Bank. IDFC First Bank has become the latest bank to halt services to crypto companies, Livemint reported last week, citing industry sources. The publication conveyed: IDFC First Bank over the past week temporality stopped services, as it is doing enhanced due diligence regarding banking support to crypto exchanges. This followed....