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Central Bank of India Asks Local Banks Not to Quote 2018 Circular to Restrict Crypto Trading

Central Bank of India Asks Local Banks Not to Quote 2018 Circular to Restrict Crypto Trading
5 hours ago by Bhushan Akolkar · 2 min read
Photo: Depositphotos
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RBI notifies that its 2018 circular banning local banks from establishing ties with crypto businesses is no longer valid after the Supreme Court circular released in March 2020.
On Monday, May 31, the Indian central bank – Reserve Bank of India (RBI) – issued a circular asking all local banking institutions not to quote its 2018 circular to restrict crypto trading activities at their end. This circular came following complaints from many crypto traders earlier on Sunday. ....

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India's central bank gives clarity to banks dealing with crypto customers

The Reserve Bank of India has clarified that banks can't caution their customers against dealing in crypto, citing an old 2018 circular. ....

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Cryptocurrency Trading: RBI Asks Banks Not to Refer to Is 2018 Circular on Digital Coins

RBI on Monday asked banks, NBFCs, and payment system providers not to refer to its earlier virtual currencies-related circular, that was issued in April 2018 and later aside by the Supreme Court, in their communications to customers. ....

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India's Central Bank RBI Confirms Crypto Banking Ban 'No Longer Valid' — Asks Banks to Stop Quoting It – Regulation Bitcoin News

16 hours ago
India s Central Bank RBI Confirms Crypto Banking Ban No Longer Valid â Asks Banks to Stop Quoting It
Indian central bank, the Reserve Bank of India (RBI), has officially advised banks that its banking ban circular is no longer valid as it was set aside by the country’s supreme court more than one year ago. Despite the supreme court’s ruling, banks have been citing the RBI circular when dealing with cryptocurrency.
RBI Tells Banks to Stop Quoting Its ‘No Longer Valid’ Circular on Cryptocurrency
India’s central bank, the Reserve Bank of India (RBI), issued a notice on Monday clarifying its position regarding cryptocurrencies. The notice, entitled “Customer Due Diligence for transactions in Virtual Currencies (VC),” aims at “all commercial and co-operative banks, payments banks, small finance banks, NBFCs, and payment system providers.” ....

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RBI clarification on Bitcoin and crypto trading, here are 5 key takeaways

The Reserve Bank of India Monday issued a clarification around Bitcoin and cryptocurrency trading, informing banks that they cannot warn customers against trading, using an old order. ....

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