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The banking ban by India’s central bank is set to begin on July 5. One of the largest crypto exchanges in the country, Unocoin, is working on banking alternatives. News.Bitcoin.com spoke with the exchange’s CEO about what to expect when the ban begins, trader sentiment, and possible ways to bypass the ban. Also read: Yahoo! Japan […]
The post Major Indian Cryptocurrency Exchange Shares What to Expect When RBI Ban Begins appeared first on Bitcoin News.
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As the start of the crypto banking ban by the Reserve Bank of India approaches, cryptocurrency exchanges in the country are preparing to stop fiat deposits and withdrawals while boosting crypto-to-crypto trading. Zebpay plans to continue crypto-INR trading pairs even after the ban. Unocoin has launched a weighted basket order tool to simplify crypto investing. […]
The post Indian Crypto Exchanges Prepare for RBI Ban – New Trading Tools, No Fiat appeared first on Bitcoin News.
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RBI, the central bank of India, has not made a proper effort to thoroughly research the nature and usage of cryptocurrencies before issuing its crypto ban. This is according to a reply sent by the bank to a Right to Information query filed by a lawyer. Copies of the communication have been distributed on social […]
The post Reserve Bank of India Admits Issuing Crypto Ban Without Research appeared first on Bitcoin News.
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Indian cryptocurrency exchanges have followed the Supreme Court’s suggestion for them to present their cases to the Reserve Bank of India. They have sent letters to the central bank, offering alternatives to the RBI’s banking ban. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Supreme Court’s Suggestion Cryptocurrency exchanges in India have reportedly sent […]
The post Indian Crypto Exchanges Engage with RBI to Offer Banking Ban Alternatives appeared first on Bitcoin News.
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The Supreme Court of India will listen to all cases that have been filed against the Reserve Bank of India on July 20, reports the Economic Times. A total of five petitions have been filed against the country’s central bank after it issued a circular in April that barred any financial institution that it regulates from providing services to crypto-related businesses. The Supreme Court itself issued a directive that bars all the other courts in the country from accepting crypto-related petitions going forward. Lack Of Stakeholder Consultation There have been five petitions in total challenging the Reserve Bank’s directive. Two of them werePowered by WPeMatico
According to a team of Indian lawyers, the Supreme Court of India refused request for a temporary injunction against restrictions imposed on banks regarding cryptocurrency by the country’s central bank. The Reserve Bank of India (RBI) issued a circular essentially banning crypto services, which will remain in place at least until a formal hearing. Also […]
The post India’s Supreme Court Keeps Ban on Banks’ Crypto Services, For Now appeared first on Bitcoin News.
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When regulators attempt to clamp down on Bitcoin and cryptocurrency activity, the public will respond in one way or another. In India, it seems things are heading in a completely different direction compared to what one would expect. With the central bank recently attempting to ban Bitcoin activity, the institution now faces legal ramifications for doing so. India’s Central Bank in the Hot Seat For as long as most cryptocurrency enthusiasts can remember, India has had a difficult relationship with Bitcoin and other cryptocurrencies. The situation has been uneasy from day one and will remain troubled for quite some time. Even thoughPowered by WPeMatico
As India works on the bill to regulate cryptocurrencies, each government department has its own opinion on whether to ban the use of crypto, including bitcoin. The Finance Ministry, the Reserve Bank of India (RBI), the Income Tax Department, and the Special Investigation Team have voiced their opinions on the upcoming bill. Also read: Russian Regulators […]
The post India Divided on Whether to Ban Crypto Use appeared first on Bitcoin News.
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Crypto markets still on the up, with almost all top 100 coins on CoinMarketCap in the green and BTC near $9K #NEWS
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The Indian bitcoin community keeps fighting for their rights to operate freely in the country like any other industry. The latest show of defiance is a petition to the court against the actions of the Reserve Bank of India by the operators of a local exchange. Also Read: SPI Solar to Host 5,000 Bitcoin Miners […]
The post Indian Exchange Takes Central Bank to Court Over Bank Ban appeared first on Bitcoin News.
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