Indian Bank Forcing Customers to Agree to Anti-Cryptocurrency Policy

An Indian bank is reportedly forcing customers to agree that they “will not deal with any transactions related to cryptocurrency including bitcoins” when signing up for an account. In addition, there are reports of banks blocking accounts of their existing customers if they are found to have made crypto-related transactions. Account Opening Agreement Amid banking restrictions imposed by India’s central […]

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Indian Central Bank's Report Shows Cryptocurrencies Are Not Currently a Threat

The Reserve Bank of India (RBI) has published a report indicating that cryptocurrencies are not a threat currently. However, the central bank says, with rapid growth and adoption of cryptocurrencies, this assessment could change, adding that constant monitoring of cryptocurrencies is needed. No Threat Currently The RBI published its “Report on Trend and Progress of Banking in India 2017-18” on […]

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An Indian Kid and the Pastry Window of Cryptocurrency

The average young Indian is curious and confused about cryptocurrency. They think it is cool, but right now, thanks to an interim regulatory ban, it’s a world that’s out of their reach, leaving them anxious and hungry to learn more. Do regulators and users know where to go from here? Also read: Major Indian Bitcoin Exchange Discusses the Aftermath of RBI […]

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India’s Securities Regulator Conducts Global Study Tours On Cryptocurrencies And ICOs

The Securities and Exchange Board of India (SEBI) is collaborating with regulators in Japan, the UK, and Switzerland to study cryptocurrency and initial coin offerings (ICO). According to its 2017-18 annual report, SEBI revealed that it sent officials to three countries to study how international regulators deal with cryptocurrencies and gain deeper understanding of their systems and mechanisms. “SEBI organized […]

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India’s Unocoin and Unodax Exchanges Halt Fiat Deposits and Withdrawals

The temporary suspension follows India’s central bank RBI prohibition on dealings with crypto-related business. One of the largest Indian cryptocurrency exchanges, Unocoin, has temporarily disabled its Indian rupee (INR) withdrawals and deposits options after instructions from the country’s central bank, the company said on Monday. Unocoin’s decision is also in force for its newly established multi-assets trading subsidiary, Unodax exchange. […]

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[UPDATED] Reserve Bank Of India Prohibits Banking Services For Cryptocurrency Firms

On April 5, the Reserve Bank of India (RBI) barred regulated entities from working with businesses or individuals dealing with cryptocurrencies. However, the RBI also addressed the possibility of a central bank digital currency. UPDATED | July 5, 2018: The three-month deadline issued by The Reserve Bank of India (RBI) banning banks from conducting business with cryptocurrency exchanges expired on […]

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Indian Crypto Exchanges Engage with RBI to Offer Banking Ban Alternatives

Indian cryptocurrency exchanges have followed the Supreme Court’s suggestion for them to present their cases to the Reserve Bank of India. They have sent letters to the central bank, offering alternatives to the RBI’s banking ban. Supreme Court’s Suggestion Cryptocurrency exchanges in India have reportedly sent their pleas to the Reserve Bank of India (RBI) as directed by the Supreme […]

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India’s Supreme Court Keeps Ban on Banks’ Crypto Services, For Now

According to a team of Indian lawyers, the Supreme Court of India refused request for a temporary injunction against restrictions imposed on banks regarding cryptocurrency by the country’s central bank. The Reserve Bank of India (RBI) issued a circular essentially banning crypto services, which will remain in place at least until a formal hearing. Also read: Bitcoin’s Anonymous $55 Million […]

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