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India's central bank shuts down crypto-currencies
Your Bank Will Not Allow You to Buy Bitcoins Anymore
By Preeli Motiani
The Times of India, Mumbai
Thursday, April 5, 2018
You will not be able to buy cryptocurrency via banks or e-wallets etc. in India anymore as the Reserve Bank of India has banned them with immediate effect from "dealing with or providing services to any individuals or business entities dealing with or settling virtual currencies."
At it its first bi-monthly monetary policy meeting, the RBI has announced that any entity regulated by the central bank such as banks, wallets, etc., shall not deal with or provide services to any individual or business entities for buying or selling of cryptocurrency such as bitcoins. If banks, e-wallets, and any other entities regulated by the RBI are not allowed to facilitate sale or purchase of cryptocurrencies, obviously individuals will not be able to transfer money from their bank accounts to their crypto-trading wallets. ...
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