its Notorious notice Instructing banks to stop providing services to crypto companies may be Overturned in court But the Central Bank of India has shown no signs of softening its position on cryptocurrencies.
Shaktikanta Das, Governor, Reserve Bank of India Reiterate After issuing a statement on monetary policy, the institution’s position at a recent press conference emphasized:
“We have big concerns about cryptocurrencies, and we have communicated this to the government.”
The Governor’s comments were made after the Reserve Bank of India was prompted to clarify Banks should not continue to quote The lapsed notice of the Reserve Bank of India was used as a reason for refusing to provide services to crypto companies. Recent media reports indicate that despite the Supreme Court ruling that the injunction is disproportionate, the document still provides an alibi for banks that are reluctant to deal with entities from the encryption field. Knock it down in March 2020.
Das told reporters that the central bank wanted to “clarify the facts” that “the special notice of the Reserve Bank of India has been shelved. Therefore, it is incorrect to quote the notice.” Despite being repealed, Banks continue to be reluctant In the context of general uncertainty about the future of cryptocurrency in India, it is open to the industry.This year, an anonymous source who claimed to be a senior official of the Indian Ministry of Finance suggested The long-discussed comprehensive ban About cryptocurrency May not be implemented in the country.
Although keen to clarify the status of the notice, Das emphasized that banks should continue to follow due diligence measures when handling cryptocurrency-related customers.The central bank has repeatedly pointed out the risks Money laundering and terrorist financing It is concerned that the use of cryptocurrency can be promoted.At the same time, it has been exploring possible Digital currency issued by the central bank is required.