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India’s Central Bank Clears Confusion Over Banking For Crypto Firms
Summary: India’s central bank has clarified that the nation’s commercial banks can indeed provide banking services to traders and firms dealing in cryptocurrencies. In response to a query filed by BV Harish, co-founder of the cryptocurrency exchange Unocoin, under the Right to Information (RTI) Act, the Reserve Bank of India (RBI) released a statement on May ...
India’s central bank has clarified that the nation’s commercial banks can indeed provide banking services to traders and firms dealing in cryptocurrencies.
In response to a query filed by BV Harish, co-founder of the cryptocurrency exchange Unocoin, under the Right to Information (RTI) Act, the Reserve Bank of India (RBI) released a statement on May 22 saying that “As on date, no such prohibition exists.”
According to a report from The Economic Times on May 26, the RTI, which was first filed on April 25, was looking for clarification on if banks were barred from providing services to cryptocurrency traders and service providers despite a recent ruling by the Supreme Court to the contrary.
By Ramsey Baker
Tags: BV Harish,India,RBI. Right to Information Act,Reserve Bank Of India,RTI,supreme court
Link: India’s Central Bank Clears Confusion Over Banking For Crypto Firms [Copy]
