Category: Reserve Bank of India

Panic Withdrawals at Indian Bank Over Alarming KYC Notice

Panic Withdrawals at Indian Bank Over Alarming KYC NoticeHundreds of customers went on a withdrawal spree after an Indian bank announced its revised KYC requirements. The bank’s action followed the decision by the Reserve Bank of India (RBI) to include the National Population Register letter as a valid KYC document for opening bank accounts. Customers are worried their funds could be frozen. Also […]

The post Panic Withdrawals at Indian Bank Over Alarming KYC Notice appeared first on Bitcoin News.

Continue Reading

Indian Supreme Court Warms Up to Crypto – RBI’s Arguments Not Convincing

Indian Supreme Court Warms Up to Crypto - RBI's Arguments Not ConvincingIndia’s supreme court heard the crypto case on Thursday, starting with the arguments by the counsel for the Reserve Bank of India (RBI). After pointing out that the RBI ban only hurts crypto businesses but does not stop crypto trading, the court explained that “being an honest contributor to the blockchain is more profitable than […]

The post Indian Supreme Court Warms Up to Crypto – RBI’s Arguments Not Convincing appeared first on Bitcoin News.

Continue Reading

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

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. Also read: […]

The post Crypto vs RBI: Exchange Counsel and RBI Take Center Stage at Supreme Court Today appeared first on Bitcoin News.

Continue Reading

RBI Confirms Crypto Not Banned in India

RBI Confirms Crypto Not Banned in IndiaThe Reserve Bank of India (RBI) has confirmed that cryptocurrency is not banned in India. During the latest supreme court hearing of the crypto case, the central bank’s reply to the Internet and Mobile Association of India was read out in detail. The RBI clarified that it only fenced in the entities it regulates, such […]

The post RBI Confirms Crypto Not Banned in India appeared first on Bitcoin News.

Continue Reading

Crypto vs RBI: 3 Days of Intense Supreme Court Hearings

Crypto vs RBI: 3 Days of Intense Supreme Court HearingsIndia’s supreme court heard the crypto case in detail over three consecutive days this week. In addition to intense arguments against the central bank having the power to ban crypto, the judges learned how other countries regulate this new sector, the amended EU directive, the FATF guidance, and less invasive crypto measures. Also read: Regulatory […]

The post Crypto vs RBI: 3 Days of Intense Supreme Court Hearings appeared first on Bitcoin News.

Continue Reading

RBI Governor Discusses Crypto and Central Bank Digital Currency

RBI Governor Discusses Crypto and Central Bank Digital CurrencyThe governor of the Reserve Bank of India (RBI), Shaktikanta Das, spoke about cryptocurrency during a press conference on Thursday. He also talked about the prospect of an RBI-issued digital currency, when the time will be right for issuing one, and his view on private digital currencies. Also read: Indian Supreme Court Wraps up Crypto […]

The post RBI Governor Discusses Crypto and Central Bank Digital Currency appeared first on Bitcoin News.

Continue Reading

Indian Supreme Court Sets Date to Hear Crypto Case Next Week

Indian Supreme Court Sets Date to Hear Crypto Case Next WeekThe Supreme Court of India has confirmed a new date to hear the crypto case after multiple delays. During the last hearing, the court directed the Reserve Bank of India (RBI) to reply to crypto exchanges’ representation within two weeks, which the central bank has done. Also read: India’s Popular ‘Who Wants to Be a […]

The post Indian Supreme Court Sets Date to Hear Crypto Case Next Week appeared first on Bitcoin News.

Continue Reading

Bank Raided, Arrests Made But RBI Still Restricts Withdrawals

Bank Raided, Arrests Made But RBI Still Restricts WithdrawalsThe crisis has elevated at the cooperative bank recently placed under regulatory restrictions by India’s central bank. Multiple branches have been raided and several arrests were made. However, the RBI continues to impose a withdrawal limit, preventing bank customers from accessing their savings. The bank has 137 branches across India. Also read: RBI Ban Stops […]

The post Bank Raided, Arrests Made But RBI Still Restricts Withdrawals appeared first on Bitcoin News.

Continue Reading

New Evidence Escalates Panic as RBI Still Limits Bank Withdrawals

New Evidence Escalates Panic as RBI Still Limits Bank WithdrawalsCustomers of a cooperative bank with 137 branches across India still do not know the fate of their money, which was restricted by the central bank. Evidence of alleged bank fraud has since surfaced, but the RBI still insists that India’s banking system is safe, despite many citizens being unable to withdraw their money. Also […]

The post New Evidence Escalates Panic as RBI Still Limits Bank Withdrawals appeared first on Bitcoin News.

Continue Reading

In a World Where Central Planners Push Debt, Cryptocurrencies Look Better Every Day

In a World Where Central Planners Push Debt, Cryptocurrencies Look Better Every DayEconomists have been predicting a worldwide recession which could pose a risk to financial stability throughout various countries. Fear of an economic downturn has caused the central bank of Australia to cut interests rates on Tuesday and both the U.S. Federal Reserve and the Reserve Bank of India are in the midst of discussing slashing […]

The post In a World Where Central Planners Push Debt, Cryptocurrencies Look Better Every Day appeared first on Bitcoin News.

Continue Reading

Indian Supreme Court Gives Government Two Weeks to Submit Cryptocurrency Report

Indian Supreme Court Gives Government 2 Weeks to Submit Cryptocurrency Report for RBI Ban CaseIndia’s supreme court has brought up the case against the cryptocurrency banking ban by the Reserve Bank of India after one-and-a-half months of delay. The court has reportedly asked the government to submit a report of the findings from the committee it had set up to understand the crypto space and recommend regulatory measures. Also […]

The post Indian Supreme Court Gives Government Two Weeks to Submit Cryptocurrency Report appeared first on Bitcoin News.

Continue Reading

Indian Cryptocurrency Exchanges See Rapid Growth in P2P Trading

Indian Cryptocurrency Exchanges See Rapid Growth in P2P TradingTrading volumes on exchange-escrowed peer-to-peer (P2P) cryptocurrency trading platforms in India are rising rapidly amid the banking ban by the country’s central bank. “Indians are warming up to P2P in amazing ways,” the CEO of a local crypto exchange told news.Bitcoin.com. Several other exchanges competing in the same space are seeing similar responses from their […]

The post Indian Cryptocurrency Exchanges See Rapid Growth in P2P Trading appeared first on Bitcoin News.

Continue Reading

30 Crypto ATMs Launching in India — Unocoin Unveils Solution to RBI Banking Ban

30 Crypto ATMs Launching in India — Unocoin Unveils Solution to RBI Banking BanA major crypto exchange in India, Unocoin, has officially announced the launch of its crypto ATMs. CEO Sathvik Vishwanath told news.Bitcoin.com that, initially, the company plans to deploy 30 machines in three Indian cities. “These ATMs help people to cash in and cash out which was not possible before” due to the crypto banking ban […]

The post 30 Crypto ATMs Launching in India — Unocoin Unveils Solution to RBI Banking Ban appeared first on Bitcoin News.

Continue Reading

India’s Zebpay Shuts Down Exchange Activities

India’s Zebpay Shuts Down Exchange ActivitiesOne of the largest cryptocurrency exchanges in India, Zebpay, is shutting down its exchange activities due to the crypto banking ban imposed by the country’s central bank. “At this point, we are unable to find a reasonable way to conduct the cryptocurrency exchange business,” Zebpay wrote. Also read: 160 Crypto Exchanges Seek to Enter Japanese Market, […]

The post India’s Zebpay Shuts Down Exchange Activities appeared first on Bitcoin News.

Continue Reading

RBI Denies Creating Crypto, Blockchain and AI Research Unit

RBI Denies Creating Crypto, Blockchain and AI Research UnitIndia’s central bank has reportedly denied setting up a unit to research cryptocurrency, blockchain and artificial intelligence as the media reported last month. This unit was supposed to research, draft rules, and supervise new emerging technologies. Also read: 160 Crypto Exchanges Seek to Enter Japanese Market, Regulator Reveals RBI Denies Setting Up Crypto Research Unit There […]

The post RBI Denies Creating Crypto, Blockchain and AI Research Unit appeared first on Bitcoin News.

Continue Reading

RBI Argues Supreme Court Should Not Interfere With Its Crypto Decision

RBI Argues Supreme Court Should Not Interfere With Its Crypto DecisionThe Reserve Bank of India has filed an affidavit with the country’s supreme court in response to one of the petitions against its crypto banking ban. The central bank reportedly argues that it has acted within its power and that none of the petitioners have shown reasonable grounds for the supreme court to intervene. Also […]

The post RBI Argues Supreme Court Should Not Interfere With Its Crypto Decision appeared first on Bitcoin News.

Continue Reading

Growing Number of Indian Crypto Exchanges Say Fiat Support Is Back Despite RBI Ban

Growing Number of Indian Crypto Exchanges Say Fiat Support Is Back Despite RBI BanA growing number of crypto exchanges in India have announced the return of fiat deposit and withdrawal support despite the crypto banking ban imposed by the country’s central bank. Several other exchanges in the country also allow their users to use Indian rupees to buy and cash out cryptocurrencies through their exchange-escrow peer-to-peer (P2P) services. […]

The post Growing Number of Indian Crypto Exchanges Say Fiat Support Is Back Despite RBI Ban appeared first on Bitcoin News.

Continue Reading

RBI Ban Hearing Delayed – Indian Supreme Court Too Busy for Crypto This Week

RBI Ban Hearing Delayed - Indian Supreme Court Too Busy for Crypto This WeekAll petitions against the crypto banking ban by the Reserve Bank of India (RBI) are supposed to have been heard by the country’s supreme court on September 11. However, the court has been busy every day this week and has postponed the RBI ban hearing. Also read: 160 Crypto Exchanges Seek to Enter Japanese Market, Regulator […]

The post RBI Ban Hearing Delayed – Indian Supreme Court Too Busy for Crypto This Week appeared first on Bitcoin News.

Continue Reading

RBI Ban Hearing in Two Days – What Indian Crypto Exchanges Are Expecting

RBI Ban Hearing in 2 Days - What Indian Crypto Exchanges Are ExpectingThe Indian supreme court will hear all petitions against the crypto banking ban by the Reserve Bank of India on Tuesday. News.Bitcoin.com talked to the CEOs of several Indian exchanges to find out what they are expecting from the hearing, trader sentiment, their exchanges’ current trading volumes, and how they see the court’s ruling affecting […]

The post RBI Ban Hearing in Two Days – What Indian Crypto Exchanges Are Expecting appeared first on Bitcoin News.

Continue Reading

Major Indian Bitcoin Exchange Discusses the Aftermath of RBI Ban

Major Indian Bitcoin Exchange Discusses the Aftermath of RBI BanIt has been about two months since the crypto banking ban by the Reserve Bank of India (RBI) went into effect. News.Bitcoin.com talked to Sathvik Vishwanath, CEO and co-founder of Indian exchange Unocoin, to discuss the aftermath of the central bank’s ban. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space All Eyes on Supreme […]

The post Major Indian Bitcoin Exchange Discusses the Aftermath of RBI Ban appeared first on Bitcoin News.

Continue Reading

Reserve Bank of India Anticipates Shift to P2P Crypto Trading

Reserve Bank of India Anticipates Shift to P2P Crypto TradingIndia’s central bank has released its latest annual report which includes a section dedicated to cryptocurrency. The Reserve Bank of India outlines the risks posed by crypto and emphasizes the need to monitor crypto development in anticipation that some trading may shift from exchanges to peer-to-peer (P2P) mode. Also read: Yahoo! Japan Confirms Entrance Into the Crypto […]

The post Reserve Bank of India Anticipates Shift to P2P Crypto Trading appeared first on Bitcoin News.

Continue Reading

Indian Exchange Resumes Fiat Deposits and Withdrawals Using New Method

Indian Exchange Resumes Fiat Deposits and Withdrawals Using New MethodAn Indian cryptocurrency exchange has come up with a new method to allow its users to deposit and withdraw rupees despite the crypto banking ban by the country’s central bank. The exchange also guarantees that rupee requests will be processed within 30 minutes or the user will receive ten free XRP credited to their account. […]

The post Indian Exchange Resumes Fiat Deposits and Withdrawals Using New Method appeared first on Bitcoin News.

Continue Reading

P2P Exchange Options Increasing for Crypto Traders in India

P2P Exchange Options Increasing for Crypto Traders in IndiaSince the Reserve Bank of India (RBI), the country’s central bank, banned banks from providing services to cryptocurrency businesses, traders are increasingly trading on peer-to-peer (P2P) platforms. Local crypto exchanges have come up with a number of exchange-escrowed P2P solutions. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Localbitcoins Trading volumes in both the […]

The post P2P Exchange Options Increasing for Crypto Traders in India appeared first on Bitcoin News.

Continue Reading

By continuing to use the site, you agree to the use of cookies. more

The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.

Close