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Posts tagged as “Cryptocurrency regulations”

RTI: Policy around Virtual Currencies under ‘Formulation Stage’

An RTI response from Department of Economic Affairs around cryptocurrency says ‘Relevant policy [around Virtual currencies] is currently under formulation stage’, reaffirming the reports that cryptocurrency regulations may soon be a reality in India.  Yusuf Rampurawala, a lawyer and crypto enthusiast from Mumbai filed an RTI application in May directed towards the Reserve Bank of India which was then forwarded to the Ministry of Finance (DEA). Rampurawala’s intention behind the…

Stop Settling Payments for Those Who Deal in Crypto: RBI

India’s Central Banking Authority the Reserve Bank of India has thrown a final blow at those who deal in cryptocurrencies. In the Press release for First bi-monthly Monetary Policy Statement, RBI has clarified that any entity regulated by RBI shall not provide services to any individual or business that deals with virtual currencies such as Bitcoin. Reserve Bank has repeatedly cautioned users, holders and traders of virtual currencies, including Bitcoins,…