Investors cheer after RBI clarifies crypto trading isn't banned.
The Reserve Bank of India's decision to repeal a 2018 rule prohibiting banks from assisting cryptocurrency sales is a welcome respite for a community that has faced resistance from traditional lenders who are needed to settle these transactions.
Late Monday, the regulator warned banks from using a 2018 central bank circular to stifle crypto trades. The Supreme Court recently overturned the 2018 note, which prohibited banks from enabling such transactions. Other standard due diligence processes on the purchases must be continued, according to the RBI.
”As of the date of the Supreme Court order, the circular is no longer valid and so cannot be referred or quoted from,” the RBI stated.
The RBI order comes after allegations in the Indian media that financial organisations such as SBI Cards & Payment Services Ltd., one of India's top credit card issuers, and HDFC Bank Ltd., the country's largest private-sector bank, had warned customers against trading in virtual currencies. The Indian government has voiced worry that crypto assets could be used for illegal purposes like as money laundering and terrorism funding.
“Investing in cryptocurrency has always been 100 percent legal in India, and the recent RBI circular clearly affirms the right to do business with cryptocurrency companies,” said Avinash Shekhar, co-CEO of ZebPay, India's oldest crypto exchange. He went on to say that the clarity will encourage more people to invest in virtual currencies.
According to Sumit Gupta, CEO and co-founder of crypto exchange CoinDCX, the RBI's broader concerns and banks' concerns about money laundering should help stimulate rules and make the industry safer and stronger.
After gaining in the two previous sessions, Bitcoin, the most popular cryptocurrency, was barely changed as of 12:15 p.m. in Hong Kong on Tuesday.
Click here to join our telegram channel (t.me/DrForexOfficial1) and stay updated with the latest headlines.
Rszdik24-07-2024 | 06:00 PM
norfloxacin for sale - purchase norfloxacin cheap confido pill
Lrflrk23-07-2024 | 06:00 PM
cheap speman without prescription - purchase finasteride pill buy generic fincar online
Davuhs20-07-2024 | 06:00 PM
buy gasex generic - buy cheap gasex diabecon pill
Debqlj20-07-2024 | 06:00 PM
lasuna oral - himcolin for sale online cost himcolin
Htvadf17-07-2024 | 06:00 PM
buy atorvastatin medication - buy bystolic 5mg generic order bystolic 20mg generic
Ixicsc16-07-2024 | 06:00 PM
oral calan 120mg - verapamil without prescription purchase tenoretic generic
Qlmuwb15-07-2024 | 06:00 PM
order generic atenolol 100mg - atenolol 50mg over the counter carvedilol 6.25mg without prescription
Yiticv14-07-2024 | 06:00 PM
cost minoxidil - finpecia cheap proscar price
Avamtq13-07-2024 | 06:00 PM
leflunomide brand - purchase alfacip for sale cartidin generic
Hfovtu09-07-2024 | 06:00 PM
durex gel online order - buy durex condoms for sale buy zovirax online
Ablpba09-07-2024 | 06:00 PM
ascorbic acid brand - isosorbide dinitrate sale buy prochlorperazine online cheap
Vqemnd06-07-2024 | 06:00 PM
zofran 8mg cost - requip 1mg brand purchase requip sale
Cmjjlh01-07-2024 | 06:00 PM
order cyclophosphamide sale - buy strattera 10mg pill buy vastarel online
Cbhqqc29-06-2024 | 06:00 PM
order depakote 500mg for sale - diamox 250mg generic order topiramate 100mg online
Kcnkfj25-06-2024 | 06:00 PM
piracetam usa - brand sinemet 20mg sinemet 20mg brand
Rpxhcq25-06-2024 | 06:00 PM
buy generic hydrea over the counter - methocarbamol 500mg sale oral robaxin
Sizmli15-06-2024 | 06:00 PM
monograph 600mg without prescription - monograph 600 mg for sale cilostazol 100 mg us
Vkjtdg13-06-2024 | 06:00 PM
dramamine over the counter - buy prasugrel generic buy actonel pills for sale
Ohhkni12-06-2024 | 06:00 PM
vasotec 5mg pills - buy zovirax online latanoprost online
Pooxkl11-06-2024 | 06:00 PM
griseofulvin 250mg pills - griseofulvin 250mg cheap buy lopid 300 mg generic
Dohhkb10-06-2024 | 06:00 PM
buy dapagliflozin paypal - dapagliflozin 10 mg without prescription order acarbose 50mg generic
Ehtfst09-06-2024 | 06:00 PM
buy hydroquinone - order dydrogesterone 10 mg for sale duphaston brand
Aqfvpo08-06-2024 | 06:00 PM
bactrim buy online - cotrimoxazole 960mg brand tobramycin oral
Bofryt06-06-2024 | 06:00 PM
order rabeprazole 10mg online - buy aciphex without prescription buy motilium pills for sale
Gdknyj05-06-2024 | 06:00 PM
order dulcolax 5mg online cheap - bisacodyl 5 mg uk liv52 20mg cheap
Lqmuhs01-06-2024 | 06:00 PM
clarithromycin measure - cytotec quiver cytotec sweat
Cyqwfh01-06-2024 | 06:00 PM
florinef ridiculous - prevacid pills oxford prevacid shell
Whwvcu30-05-2024 | 06:00 PM
ascorbic acid fir - ascorbic acid soup ascorbic acid icy
Snnxlw29-05-2024 | 06:00 PM
promethazine bowl - promethazine alien promethazine fir
Vvdhmh27-05-2024 | 06:00 PM
dapoxetine specimen - dapoxetine assistant dapoxetine okay
Rtjgij26-05-2024 | 06:00 PM
loratadine medication boot - claritin quest loratadine each
Tvzprp24-05-2024 | 06:00 PM
claritin sum - claritin pills keen claritin pills treasure
Upuwbz23-05-2024 | 06:00 PM
valacyclovir pills watson - valtrex online bronze valtrex inquiry
Yqepsg22-05-2024 | 06:00 PM
prostatitis medications content - prostatitis treatment clasp prostatitis medications holiday
Pnfhcg21-05-2024 | 06:00 PM
uti medication nearby - treatment for uti golden uti antibiotics owl
Qrrkqs20-05-2024 | 06:00 PM
asthma medication aunt - asthma medication charm asthma treatment hint
Fylfta19-05-2024 | 06:00 PM
acne medication madness - acne medication marvel acne medication figure
Yazrun18-05-2024 | 06:00 PM
dapoxetine grey - cialis with dapoxetine finger cialis with dapoxetine player
Tekbbi17-05-2024 | 06:00 PM
cenforce online professional - tadalis apply brand viagra pills rather
Xrgzqo13-05-2024 | 06:00 PM
cialis soft tabs online gaz - cialis oral jelly comrade viagra oral jelly online accurate
Tprqqo12-05-2024 | 06:00 PM
brand cialis commit - penisole eleven penisole brief
Ahpsdu10-05-2024 | 06:00 PM
cialis soft tabs pills rider - viagra super active online many viagra oral jelly online storm
Iqhqcr07-05-2024 | 06:00 PM
cenforce online bulge - zenegra online island brand viagra pills win
Xkenpm07-05-2024 | 06:00 PM
priligy fan - viagra plus although cialis with dapoxetine saturday
Rljgjo04-05-2024 | 06:00 PM
viagra professional online land - viagra professional jump levitra oral jelly destroy
Dppqan03-05-2024 | 06:00 PM
simvastatin altogether - zocor cling atorvastatin beg
Dofmes02-05-2024 | 06:00 PM
crestor pills bowl - caduet pills flora caduet pills superior
Jmiqgj29-04-2024 | 06:00 PM
nitroglycerin drug - buy indapamide online cheap valsartan 80mg price
Vutxxf29-04-2024 | 06:00 PM
metoprolol ca - where can i buy olmesartan buy adalat 10mg online
Adrxnc27-04-2024 | 06:00 PM
order generic microzide 25mg - order norvasc 10mg generic bisoprolol 5mg brand
Vabdmw25-04-2024 | 06:00 PM
brand famciclovir - purchase valaciclovir online cheap valaciclovir 500mg us
Ojvjwl25-04-2024 | 06:00 PM
buy generic digoxin 250mg - purchase lanoxin sale lasix 40mg generic
Oadugs23-04-2024 | 06:00 PM
order ketoconazole 200mg online - lotrisone over the counter itraconazole 100 mg over the counter
Zesuad22-04-2024 | 06:00 PM
semaglutide over the counter - order semaglutide 14 mg generic DDAVP over the counter
Bwsevt21-04-2024 | 06:00 PM
terbinafine over the counter - buy fluconazole cheap buy generic grifulvin v for sale
Jwbxto19-04-2024 | 06:00 PM
order glucophage for sale - where can i buy acarbose buy acarbose 50mg generic
Axblxd18-04-2024 | 06:00 PM
order repaglinide pills - buy generic jardiance 10mg order empagliflozin 25mg generic
Rmvfux16-04-2024 | 06:00 PM
glyburide 5mg cost - pioglitazone online buy order forxiga 10 mg pills
Fgmqor15-04-2024 | 06:00 PM
buy medrol 8mg - zyrtec 10mg generic buy azelastine 10ml generic
Suhfzi14-04-2024 | 06:00 PM
purchase clarinex generic - generic beclomethasone purchase albuterol online cheap
Jguxgn12-04-2024 | 06:00 PM
buy stromectol uk - buy aczone without prescription buy cefaclor pills
Llvvsp12-04-2024 | 06:00 PM
order ventolin 4mg online cheap - albuterol online order cheap theo-24 Cr 400 mg
Ttuwja09-04-2024 | 06:00 PM
purchase zithromax generic - buy generic ciprofloxacin online order ciprofloxacin 500 mg sale
Mcqdln08-04-2024 | 06:00 PM
clindamycin oral - generic acticlate buy chloromycetin tablets
Uypygd04-04-2024 | 06:00 PM
buy clavulanate pill - acillin drug brand ciprofloxacin 500mg
Spfnsz03-04-2024 | 06:00 PM
buy amoxil pills - order amoxil online cheap buy ciprofloxacin 500mg generic
Tulpwf30-03-2024 | 06:00 PM
anafranil 50mg canada - order cymbalta 20mg buy doxepin generic
Mobqmr30-03-2024 | 06:00 PM
order atarax 25mg pills - buy escitalopram 20mg pill endep 25mg generic
Kolsgz28-03-2024 | 06:00 PM
order seroquel 50mg online cheap - cheap geodon cheap eskalith online
Nhcktq28-03-2024 | 06:00 PM
order clozapine for sale - aceon tablet order famotidine 20mg generic
Podzjx25-03-2024 | 06:00 PM
order glucophage for sale - buy lincocin 500 mg online cheap lincocin 500mg pills
Vzaypm25-03-2024 | 06:00 PM
retrovir over the counter - order allopurinol 100mg generic allopurinol pill
Cesowe22-03-2024 | 06:00 PM
buy lasix without prescription - buy lasix generic diuretic buy captopril 25 mg for sale
Rpnvsv19-03-2024 | 06:00 PM
buy stromectol 2mg - sumycin price oral sumycin 250mg
Ufuhwn17-03-2024 | 06:00 PM
ciprofloxacin 500 mg drug - buy erythromycin 500mg online erythromycin for sale online
Ctdavx16-03-2024 | 06:00 PM
buy metronidazole generic - order terramycin 250 mg pills azithromycin oral
Uljvai14-03-2024 | 06:00 PM
buy ciprofloxacin 1000mg for sale - order ciprofloxacin 1000mg generic clavulanate drug
Ciagaa13-03-2024 | 06:00 PM
finpecia pills finpecia pills cost diflucan 100mg