RBI Argues Against Crypto Utility in India

2020-1-23 20:00

The Reserve Bank of India (RBI) says citizens do not need cryptos as the country’s mainstream financial framework already has working solutions for cross-border remittances. The Indian central bank also clarified the legal situation of cryptocurrencies in the country, stating that there is no ban on virtual currencies. origin »

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Источник: btcmanager.com

india bank → Результатов: 126

Indian Payments Authority executive supports RBI’s efforts in CBDC development

Dilip Asbe, the managing director of the National Payments Corporation of India (NPCI), recently voiced his support for the Reserve Bank of India’s (RBI) innovative central bank digital currency (CBDC) initiatives.

2024-2-21 11:49	India
india bank cbdc asbe payments rbi digital

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India explores new features for CBDC amid weak retail activity

The Reserve Bank of India is said to be working with local banks to link the digital version of e-rupee with the country’s national payments system. India’s central bank, the Reserve Bank of India (RBI), is reportedly collaborating with local…

2023-9-11 14:34	India
india bank local reserve e-rupee rbi reportedly

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Unpacking India's CBDC Pilots as Country Prepares for Digital Rupee

India wants to launch its central bank digital currency at a national level by the end of 2023, but early into its pilot, the Reserve Bank of India has identified challenges.

2023-2-8 06:00	policy
india bank digital identified challenges reserve 2023

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Reserve Bank of India ranks crypto near the bottom of systemic risks despite harsh criticism

India's central bank has been a vocal critic of cryptocurrencies over the years; it previously stated that CBDCs could thwart the adoption of digital assets.

2022-7-1 19:30	Regulation
india bank stated previously cryptocurrencies years thwart

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India’s Central Bank Plans Graded Implementation Of CBDC

India’s banking and finance sector regulator, the Reserve Bank of India (RBI), has said that it plans to introduce a Central Bank Digital Currency (CBDC) in a graded manner. Also, the introduction of a CBDC needs to meet the objectives of India’s monetary policy, financial stability, and currency and payments systems, local media reports. The […]

2022-6-2 23:34	xbtusd
india bank cbdc currency central graded plans

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India's WazirX opens account with country's third-largest pvt. sector bank

India's regulatory woes pertaining to cryptos now seem to be easing a little, despite the absence of a clear consensus. Regardless, the threat of private cryptocurrencies being banned has stalled for The post India's WazirX opens account with country's third-largest pvt. sector bank appeared first on AMBCrypto.

2021-12-6 11:30	News
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India Central Bank, RBI, Considers Rolling Out Digital Rupee In A ‘Phased’ Manner

The Reserve Bank of India (RBI) is working on a phased implementation strategy for its central bank digital currency (CBDC) program. India Considers Running CBDC Pilot Programs The Deputy Governor of RBI, T.

2021-7-23 16:44	CBDC
india bank rbi phased cbdc digital central

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India’s Central Bank RBI Unveils Plan to Launch Digital Currency in Phases

The deputy governor of the Reserve Bank of India (RBI) has revealed that the central bank is planning to launch a state-backed digital currency in phases so that it would have “little or no disruption to India’s banking or monetary systems.

2021-7-23 14:30
india bank currency phases digital launch rbi

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RBI reportedly urging banks to cut ties with crypto exchanges and traders

The lack of rules for cryptocurrency trade in India is giving birth to policy grey areas that different stakeholders are using to their benefit. As per a Reuters report on 13 May 2021, India’s central bank, the Reserve Bank of India (RBI), has recently asked Indian banks, informally, to stop banking services to crypto trades. […]

2021-5-16 18:17	Reserve Bank of India
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Reserve Bank of India 'exploring the possibility' of a digital currency

The bank still claimed that government bodies and regulators in India are both “skeptical” and “apprehensive” about crypto.

2021-1-26 20:55	Banks
india bank regulators bodies government skeptical crypto

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Big Blow To The Crypto Dream: India’s Government Calls For Blanket Cryptocurrency Ban Again

Since July 2018, domestic commercial banks in India were prohibited by the Reserve Bank of India (RBI) from servicing cryptocurrency exchanges and all other businesses dealing with virtual currencies due to a circular that the Central Bank had released.

2020-6-12 13:37	India
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Indian Government Engages RBI to Discuss Cryptocurrency Regulation

The government of India is reportedly discussing a regulatory framework for cryptocurrencies with the central bank, the Reserve Bank of India (RBI), and the Securities and Exchange Board of India (SEBI).

2020-3-22 16:10
india bank rbi government central cryptocurrencies reserve

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India’s Watershed Crypto Ruling May Not Be Set in Stone: Here’s Why

Last week, Bitcoin bulls celebrated when it was revealed that India’s Supreme Court on Wednesday reversed anti-crypto restrictions placed on the industry by the nation’s central bank, the Reserve Bank of India.

2020-3-10 13:21	Regulation
india bank reversed wednesday supreme anti-crypto court

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Crypto vs RBI: Exchange Counsel and RBI Take Center Stage at Supreme Court

India’s supreme court spent all day on Wednesday hearing extensive arguments from both the counsel representing crypto exchanges and the central bank, the Reserve Bank of India (RBI). The counsel for the central bank confirmed again that cryptocurrency is not banned in India, but still justifies the banking restrictions on the crypto industry.

2020-1-22 16:05	Virtual Currency
india bank counsel crypto rbi supreme central

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India’s Central Bank Hints that Cryptocurrencies Will Be Banned

The governor of India’s central bank, Shaktikanta Das, has restated that the Indian government is against private cryptocurrencies. This all comes ironically amid talks of India launching its own Central Bank Digital Currency (CBDC).

2019-12-7 20:10	India
india bank central cryptocurrencies ironically cbdc comes

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Binance Buyout Brings Hope to Investors in India of Enhanced Regulation

Back in April 2018, India’s central bank instigated a massive crackdown on purchasing and trading cryptocurrency like Bitcoin. Bibhu Kanungo, who is the Deputy Governor for Reserve Bank of India, declared that all the firms regulated by the RBI should “stop having business relationships with entities dealing with virtual currencies forthwith and unwind the existing […]

2019-11-29 21:02	Binance
india bank firms all regulated existing declared

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India’s Crypto Dial Leaned Regulation Before Central Bank’s ‘Ban’ Shove

India – that has proposed a total ban on crypto yesterday – had planned to regulate digital currencies at first but the Reserve Bank of India (RBI) has forced the inter-ministerial cryptocurrency committee to prohibit the digital assets.

2019-7-27 13:13	India
india bank ban crypto regulation shove dial

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India’s Federal Bank Adopts RippleNet for Cross-border Payments

The federal bank in India is finally embracing blockchain technology. The latest news is that the bank has entered a partnership with Ripple and its payment network RippleNet for cross-border payments to India and to enable Indians in diaspora transfer funds across borders.

2019-3-30 00:36	Ripplenet
india bank payments cross-border federal ripplenet payment

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India’s Potential Crypto Regulatory Framework to Be Presented at the Supreme Court Shortly

India’s perspective on cryptocurrencies has been quite cold, especially on the central bank, the Reserve Bank of India’s (RBI) end. Bitcoin Exchange Guide (BEG) reported on multiple instances how they have been consistently shutting down the idea, to which native traders were getting frustrated.

2019-3-24 20:40	News
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Questions Arise About India’s Understanding of Implementing Bitcoin Regulations Thoroughly

India is currently moving towards unclear and clueless Bitcoin (BTC) and cryptocurrency regulations. Although there are several ways to regulate digital currencies, India seems not to have a clear path about what they want to achieve.

2019-3-8 19:49	News
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Reserve Bank of India Shelves State-Backed Cryptocurrency

The Reserve Bank of India has shelved its plan to launch a state-backed cryptocurrency amidst increased government pressure and concerns around money laundering. Indian Government Still Cautious About Cryptocurrencies It seems that regulatory clarity has evaded the crypto community in India, yet again.

2019-1-3 05:52
india bank cryptocurrency state-backed reserve government shelves

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Reserve Bank of India Fears P2P Cryptocurrency Trading Could Harm the Economy

Cryptocurrencies could affect the transmission of India’s monetary policy if some trading migrates from the traditional exchange-based route to the peer-to-peer (P2P) mode, says the Reserve Bank of India (RBI) in its annual report published Wednesday, Aug.

2018-8-31 11:04	trading
india bank could trading p2p cryptocurrency reserve

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India’s Central Bank Forms New Research Unit to Study Cryptocurrency, Blockchain and AI

The Reserve Bank of India (RBI), the nation’s central bank, has formed a new research group focusing on emerging technologies like cryptocurrency, blockchain and artificial intelligence, the Economic Times reports.

2018-8-28 23:07	Cryptocurrency News
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Crypto Exchanges Are Already Adapting to India's Bank Account Ban

As the Indian Supreme Court declined to end the Reserve Bank of India's crypto curb, exchanges in India are taking different actions.

2018-7-5 09:00
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Central Bank of India stay its Crypto ban Statement

The Central Bank of India – RBI has responded to an RTI query about why the decision to block banks from dealing in cryptocurrency was taken earlier this year – but the answer had no explanation whatsoever.

2018-6-14 14:08	News
india bank central explanation shri varun whatsoever

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India's Central Bank Admits to Banning Crypto Accounts Without Research

]In a fresh new twist, the Reserve Bank of India (RBI) has admitted to issuing its ban on cryptocurrency-related accounts spontaneously, without taking time to study and understand how cryptocurrencies work.

2018-6-13 23:40	Regulation
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Reserve Bank of India (RBI) to allow crypto trading in India, with conditions

The Reserve Bank of India (RBI) is planning to allow cryptocurrency trading with some level of restrictions. After a rather long wait for the cryptocurrency market in India, the financial regulator and institution; The RBI has announced, according to reports from Congencis, that the government is against the ban of cryptocurrencies in the country.

2018-6-13 17:39	RBI
india rbi trading allow reserve bank according

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India’s Central Bank Carried No Research Prior to Banning Crypto Bank Accounts

India’s Central Bank has admitted they undertook no research prior to issuing a notice on April 6th 2018 prohibiting banks from offering services to crypto-exchanges. In a request for information.

2018-6-13 16:51	Politics
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India ‘Not in Favor’ of Banning Cryptocurrency (Reports)

The Indian government is reportedly “not in favor” of banning cryptocurrency, new sources claim June 13. Gov’t vs. Central Bank Citing local financial company Cogencis, local news media outlet Economic Times said a dedicated panel studying cryptocurrency “may suggest allowing cryptocurrency,” but with undisclosed “riders” – or provisos – about its usage.

2018-6-13 16:00	Reserve Bank of India
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Are The Reserve Bank Of India About To Admit Their Mistake?

The Reserve Bank of India (RBI) hit the headlines a few months ago through their sudden decision to cut out cryptocurrency activities within their personal and corporate customers. To keep a long story short, they decided to state that they would not provide banking or financial services to anyone who engaged within cryptocurrencies.

2018-6-13 15:30	Cryptocoins
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India’s Central Bank Remains Mum on Crypto Boycott Reasoning

Shri Varun Sethi, who presents himself as a “blockchain lawyer,” requested clarifications from RBI under the country’s Right to Information Act. According to the answers provided, the decision didn’t result from any kind of special research or deliberation by the regulator.

2018-6-13 00:03
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Reserve Bank of India Admits Issuing Crypto Ban Without Research

RBI, the central bank of India, has not made a proper effort to thoroughly research the nature and usage of cryptocurrencies before issuing its crypto ban. This is according to a reply sent by the bank to a Right to Information query filed by a lawyer.

2018-6-13 20:58
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India is Preparing a ‘Banning of Cryptocurrencies’ Bill

Bitcoin stakeholders in India are decrying the decision by the country’s central bank to exclude cryptocurrency-related businesses in its recently released regulatory sandbox for fintech firms. Meanwhile, reports have emerged that the government is looking to ban cryptocurrencies entirely.

Banks in India: Don’t Touch Bitcoin Or Your Accounts Will Be Closed

Reports on social media indicate that banks in India are threatening customers that deal in Bitcoin and other cryptocurrencies with the closure of their accounts. This move is the latest salvo from the banking industry in a country where cryptos seem all but banned.

India: Clear-Cut Cryptocurrency Law Still Months Away, Says Gov’t Panel

Don’t expect any final cryptocurrency regulations in India at least until the end of the year, according to members of the government panel set up to examine the emerging virtual currency ecosystem in the country.

2020-1-23 20:00

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