Is Bitcoin Ban in India??! Actual RBI Detail News
On 5th April 2018 Reserve Bank Of India discussed 16 Developmental and Regulatory Policies. In the 12th & 13th no. Topic is "Central Bank Digital Currency" & "Ring-fencing regulated entities from virtual currencies " you can see many different news regarding that so I am sharing the actual news from RBI website I am attaching the link so you can check out the details news.
Actual Statement regarding Central Bank New Digital Currency
Rapid changes in the landscape of the payments industry along with factors such as emergence of private digital tokens and the rising costs of managing fiat paper/metallic money have led central banks around the world to explore the option of introducing fiat digital currencies. While many central banks are still engaged in the debate, an interdepartmental group has been constituted by the Reserve Bank to study and provide guidance on the desirability and feasibility to introduce a central bank digital currency. The Report will be submitted by end-June 2018.
Actual News for Bitcoin and other Virtual Currencies
Technological innovations, including those underlying virtual currencies, have the potential to improve the efficiency and inclusiveness of the financial system. However, Virtual Currencies (VCs), also variously referred to as crypto currencies and crypto assets, raise concerns of consumer protection, market integrity and money laundering, among others. Reserve Bank has repeatedly cautioned users, holders and traders of virtual currencies, including Bitcoins, regarding various risks associated in dealing with such virtual currencies. In view of the associated risks, it has been decided that, with immediate effect, entities regulated by RBI shall not deal with or provide services to any individual or business entities dealing with or settling VCs. Regulated entities which already provide such services shall exit the relationship within a specified time. A circular in this regard is being issued separately.
Source of The News (RBI Website)
This is my personal suggestions to all my friends, don't sale you cryptocurrency right now because you have buy this in the price of 5 to 14 lakh now you can see the price. If you have Bitcoin and other cryptocurrency in any Indian exchange then transfer them to a international exchange. In this way you can secure your hard earned money.
Thanks for reading
@supriya1993
Nice Article!!
In India things are neutral, there are looking for a regulated Virtual Currency but by the nature they are unregulated. For that reason they are in looking for other option to stabilize its operations or permanently block its operations.
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