applancer Advertise

Has India really shut down on Bitcoin? Latest RBI Statement

Apr 05, 2018 Posted /  1476 Views

Has India really shut down on Bitcoin? Latest RBI Statement

RBI on Bitcoin

The reserve bank of India released its latest statement barring banks and all other financial institutions from dealing with virtual currencies including Bitcoin, Ethereum and others.

The RBI also warned users of Bitcoin and other virtual currencies regarding the risks associated with such currencies.

Circular expected very soon

It is soon expected that RBI will be issuing a circular in this regard and might give notice buffer period to entities dealing with such digital currencies.

The press release from RBI can be found here.

Does this mean a permanent ban?

While the news created panic in the Indian cryptocurrency market and Bitcoin price dropped below 3 Lacs INR, it soon recovered above 4.2 Lacs.

As a general rule of the cryptocurrency space, Banks can never be in favour of Cryptos, what do you feel? Tell us in the comment section below.

Applancer is an open platform for discussion on all things like Blockchain , Cryptocurrency and Ico news updates. As such, the opinions expressed in this article are the author's own and do not necessarily reflect the view of Applancer .

For more details on how you can submit an opinion or any news , view our Editorial Policy or email [email protected].

Tags: india ban bitcoinban Bitcoin ban RBI on Bitcoin RBI statement Bitcoin India RBI

Hottest Blockchain Newsletter

For updates and exclusive offers, enter your e-mail below.