2018-7-5 11:50 |
A few warning signals and conflicted statements later, the RBI finally pulled the plug on cryptocurrency exchanges.
On July 06, a near-complete crackdown—at least temporarily—on cryptocurrencies will take hold in India.
The RBI has instructed banks to shut down all accounts, including those of investors, that deal with bitcoin and other similar currencies.
Here’s a timeline of how India slowly but steadily choked its cryptocurrency ecosystem over the last few months:
November 2017: Investors make a beeline for cryptocurrencies like never before.
It also asks the attorney general of India, KK Venugopal, to be present on the next date of hearing, July 20.