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The Reserve Bank of India (RBI) is reportedly seeking to file a review petition challenging the supreme court verdict which lifted its banking ban on the crypto industry. The RBI is worried that the court’s decision “could pave the way for trading in virtual currencies and put the banking system at risk.” Also read: Indian […]
The post RBI to Challenge Supreme Court Verdict on Cryptocurrency appeared first on Bitcoin News.
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Regulatory measures affecting blockchain and cryptocurrency projects often create a panic reaction among community members. In most cases, any regulatory measure will ultimately lead to either restricting or banning a specific type of activity. In India, a new proposal has been submitted to effectively prohibit cryptocurrency trading and use, although it has yet to be approved in the coming months. Below are a few key takeaways. This is Still a Mere Proposal Perhaps the most important aspect to highlight first and foremost is how the “Banning of Cryptocurrencies and Regulation of Official Digital Currencies Bill 2019” is not an official
The post 5 Crucial Aspects of India’s Proposal to Ban Cryptocurrencies appeared first on The Merkle Hash.
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Iran, which was heavily affected by the sanctions imposed by the US on the country and its businesses in January, has banned the only alternative payment method that local businesses and individuals could use to bring money in and out of the nation. Why Did Iran Ban Cryptocurrency? On April 23, the central bank of Iran effectively banned local banks and financial institutions from dealing with cryptocurrency businesses. “Banks and credit institutions and currency exchanges should avoid any sale or purchase of these currencies or taking any action to promote them,” Iran’s state-run IRNA news agency reported. According to Radio Free Europe/RadioPowered by WPeMatico