Future of cryptocurrency in India continues to hang in the balance
The Hindu
Spotlight back on digital asset after RBI asks banks not to deny services to dealers
The Reserve Bank of India (RBI) on May 31 asked banks not to cite its 2018 order as a reason to deny banking services to customers who dealt in cryptocurrencies. It stated that its 2018 order was set aside by the Supreme Court in March this year and that it would be inappropriate for banks to cite the order any longer. However, the central bank asked banks to continue other due diligence procedures on cryptocurrency traders under rules linked to anti-money laundering and prevention of terrorism.
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