In April 2018, the Reserve Bank of India (RBI) asked local banks to stop providing services to cryptocurrency exchanges and related businesses, subsequently halting fiat-to-crypto trading in the country. Since then, many Indian exchanges have been struggling to keep up their payment channels as the banks sever ties with them despite the Supreme Court ruling […]

Yao Qian, a member of The China Securities Regulatory Commission, presented a case where a possible Digital U.S. dollar and the Digital Yuan run on top of Ethereum’s network. The government official spoke on The International Financial Forum (IFF) 2021 in Beijing on May 30th. The summit had the objective of discussing the post-pandemic world […]

A former official of the People’s Bank of China (PBOC) argued that contrary to opinions about China’s central bank digital currency (CBDC), the digital yuan was not developed for monitoring purposes.  Digital Yuan Not For Tracking Citizens’ Payments  According to Bloomberg on May 30, Yao Qian, the former director of the PBOC’s Digital Currency InstituteRead More

India’s central bank clears ambiguity over crypto regulations in the country. Banks Can’t Advise Against Trading in Crypto In a tweet posted today, the Reserve Bank of India (RBI) cleared clouds of confusion regarding the regulatory nature of cryptocurrencies in India. Customer Due Diligence for transactions in Virtual Currencies (VC)https://t.co/iAUAx8KpRh — ReserveBankOfIndia (@RBI) May 31,Read More

The Reserve Bank of India has clarified that banks can't caution their customers against dealing in crypto, citing an old 2018 circular.

The post India’s central bank gives clarity to banks dealing with crypto customers appeared first on The Block.

TL;DR Breakdown • Reserve Bank of India clarifies there are no restrictions on cryptocurrencies.• Indian bank users must comply with FEMA. Cryptocurrencies investors are relieved after RBI clarifications about banks not accepting virtual currencies. The Reserve Bank of India clarifies that banks cannot cite the 2018 order prohibiting crypto trading. This announcement comes after banks […]

Yao Qian, former director of the PBOC Digital Currency Research Institute, believes that CBDC can be established on the Ethereum network.

The RBI said its circular "DBR.No.BP.BC.104/08.13.102/2017-18" dated April 06, 2018 cannot be cited.

In 2017, Bitcoin reached an all-time high of $20,000. By 2018, the price of the first cryptocurrency by market cap dropped by more than 50%. What happens later caught the attention of two legendary investors, Stan Druckenmiller, founder of Duquesne Capital, and Paul Tudor Jones, founder of Tudor Investment Corporation. Druckenmiller has been giving interviews […]

Bridgewater Associates founder and CEO Ray Dalio says Bitcoin can see traction in the years to come, but that the digital version of Yuan, China’s national fiat currency, could ‘compete’ with it.

The post Billionaire Ray Dalio says Chinese ‘digital’ yuan could compete with Bitcoin appeared first on CryptoSlate.

Indian cryptocurrency holders and users can finally breathe a sigh of relief as RBI released its objection to banks using its old circular to refrain from processing crypto payments. As per the Reserv

The post Finally, India's RBI breaks its silence on 'crypto ban' appeared first on AMBCrypto.

BNY Mellon launches a bitcoin custodian in Ireland despite the central bank enforcer Derville Rowland expressed concerns over crypto assets as we can see more in our latest Bitcoin news today. Despite the bearish sentiments, BNY Mellon launches a Bitcoin custodian in Ireland, hoping to expand its crypto operations in the country. The central bank […]