Bitcoin [BTC] or other crypto trading NOT BANNED in India – Exchanges like Unocoin & Zebpay release statements

Against the accepted print media perquisite, even a “common” understanding of however cryptocurrencies work is enough to appreciate that no entity, government or person may ever “ban” cryptocurrency. There may solely be a ban on exchanges that facilitate commercialism cryptocurrencies which could limit choices of commercialism through the digital/easier ways.

As analysts say, if it ever happens then it {might|it'd} make to very large volumes in unlisted (over the counter) commercialism and might produce a “black money” complication which could be the precise reason governments need to curb crypto commercialism.

RBI free a press release through Chief chief Jose Kattoora a couple of days back and declared that banks that ar regulated by the run ought to exit any type of partnerships with any business or person(s) that ar addressing cryptocurrencies. there's a separate elaborate notice that may be sent to the banks before long relating to an equivalent.

After run free the statement, Unocoin one among the cryptocurrency exchange platforms in Asian nation free a press release.

Sathvik, the chief operating officer and Co-Founder of Unocoin says that banks that ar already operating with cryptocurrency corporations ar given a length of three months to stop all support. He adds that the banks they're presently related to haven't issued any notice and if they are doing, they're going to undoubtedly communicate with all their customers.

According to the release, the chief operating officer claims that every one the funds, be it in government agency, BTC or the other virtual currencies ar safe and users will still use the platform like before and may even withdraw if they need to.

The platform says that as per the run notice, the lawfulness of cryptocurrencies still remains unchanged because the notice doesn’t cite its status however was additional within the line of the risks related to cryptos.