RBI clears air on cryptocurrency trading, asks banks to perform customer due diligence1 min read . Updated: 31 May 2021, 07:50 PM IST
- The latest directive comes against the backdrop of some banks and regulated entities citing the circular and cautioning customers against dealing in virtual currencies
The Reserve Bank of India(RBI) today clarified that banks and other entities cannot cite its 2018 order on virtual currencies as it has been set aside by the Supreme Court of India in 2020. The clarification from the central bank will come as a sign of relief for all investors and crypto exchanges in India who invested in virtual currencies.
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