India Forbids Any Kind of Regulated Entity to Deal With Cryptocurrencies

[Vladar49]

The Reserve Bank of India (RBI) announced on Thursday its decision to stop the trading of virtual coins such as bitcoin and altcoins on the country’s financial market. Regulated financial institutions can provide no service directly related to digital currency.

"In view of the associated risks, it has been decided that, with immediate effect, entities regulated by RBI shall not deal with or provide services to any individual or business entities dealing with or settling [virtual currencies]," the bank said in a statement.

Read the details in the article of Coinidol dot com, the world blockchain news outlet: https://coinidol.com/india-forbids-to-d ... urrencies/

[irikan50]

Indian is not showing good prospect towards the cryptocurrency and they have banned the trading of the Bitcoin as far as I know. But they need to realize the importance of the cryptos as soon as possible. I think, the countries which are supporting it will gain benefits in near future.