In Mumbai,
Commercial banks in the country will no longer be able to transact in cryptocurrencies like Bitcoin from Friday in view of a Reserve Bank of India RBI directive in April.
Cryptocurrency trade in rupees will stop from midnight, while exchanges or cryptocurrency companies will now be unable to avail loans or hold bank accounts...😗
In a bid to protect consumers and curb money laundering and other financial irregularities, the RBI had, on April 5, barred all its regulated entities, including banks, from dealing in virtual currencies like bitcoins, following its earlier multiple warnings on their risks.🔰
Investors would only be able to do peer-to-peer transactions with a fellow trader and such transaction would only be possible in the form of exchange with any another cryptocurrency...
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