India’s Central Bank Removes Lingering Confusion Over Banking for Crypto Firms
India's commercial banks can indeed provide banking services to traders and firms dealing in cryptocurrencies, the RBI has clarified.
The news comes amid the view that proposals for a blanket ban are outdated.
India’s central bank has been unofficially asking banks why they are dealing with crypto businesses.
ICICI Bank is telling customers not to use foreign remittances to invest in cryptocurrencies.
A CBDC could promote financial inclusion but also poses a risk of harming the banking system, the RBI said in a report.
Talk that India might be considering a new ban on crypto may be premature, said exchange founders and startup CEOs working in the sector.