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No, India Has Not Banned Bitcoin Trading, Government Confirms
Apr 7, 2018
 

No, India Has Not Banned Bitcoin Trading, Government Confirms

There are a lot of misconceptions regarding a recent decision by the Indian government. Various sources claim India has banned Bitcoin trading. That is not the case whatsoever. Instead, the RBI is ending its relationship between its own banks and any user or corporation dealing with cryptocurrencies. For banks servicing cryptocurrency companies, a big deadline looms overhead. All of these institutions have a maximum of three months to cease the support. If they do not adhere to this deadline, the bank in question is no longer a “partner” of the RBI. It is a fear-mongering tactic, although one that is not necessarily fatal. According to Unocoin, there isn’t much to be worried about. There is no ban on Bitcoin and no indication the RBI deems it an illegal currency. No funds have been frozen either, and exchange users can continue to use the platform as they always have. With no banks alerting Unocoin of any impending changes, business will resume as normal until stated otherwise. Source: News BTC (https://www.newsbtc.com/2018/04/07/no-india-not-banned-bitcoin-trading-government-confirms/)

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