New Rbi Circular Says Banks Can No Longer Discourage Crypto Investments In India
Now, for the unaware, the RBI, back in 2018, barred the trading of cryptocurrencies in India for the sake of a central digital currency. Since then, the private banks have been quoting the 2018 RBI circular to discourage customers from investing in crypto. However, the recent circular by the RBI clarifies that banks cannot use its 2018 circular to discourage crypto investments in the country anymore. The previous circular that barred crypto trading by regulated entities in India was “set aside” by the Supreme Court last year, said RBI’s Chief General Manager Shrimohand Yadav....