2018-7-14 20:58 |
Regulation
The Reserve Bank of India has justified its crypto banking ban to an industry group which has been trying to convince the central bank to ease crypto restrictions.
In response, the central bank outlines key areas of concern and upholds its stance on crypto.
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RBI’s Main Concerns
India’s central bank, the Reserve Bank of India (RBI), has divulged key areas of concern regarding cryptocurrency.
The document was sent to the central bank during the Supreme Court hearing of IAMAI’s petition against the crypto banking ban.
Anonymity of Crypto
The third major factor of concern for RBI is the “anonymity of crypto leading to money laundering,” the source noted.
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