Rbi cryptocurrency ban in india

Friends !!

As you all know, the Reserve Bank of India has repeatedly warned users, holders and traders of virtual currencies, including bitcoins, regarding the various risks associated with dealing with such virtual currencies on the following dates:

December 24, 2013
01 February, 2017
December 05, 2018

Finance Minister Arun Jaitley said, "We have created a committee to analyze and discuss the case of bitcoin and other cryptokuris and wait for its report." Meanwhile, the Reserve Bank of India (Reserve Bank of India) did not deal immediately with the notice sent to the 6th of April 2018 and the banks with the effect of Bitcoin and Cryptokurus and gave them three months to close the operation.

Many petitions were filed against RBI's decision and the matter was brought to the High Court. The High Court dismissed the appeal and said that all such cases would be discussed only in the Supreme Court regarding bittoine and cryptokuria.
A few days ago, the SC (Supreme Court) asked the banks and the appellant to solve the material at their level.

The next hearing will be held on July 20, 2018 in the Supreme Court.

What will happen on July 6?

For the Fiat operation of exchanges like Zeppay, Unocoin and other Indian Exchagnes, the crypto will close on July 6, but there will be crypto-to-crypto trading operating.

Meanwhile Indian .. !! You can trade your bitcoin in Localbitcoins for these days **

Do you need to worry about it?

no, not at all.

We have got something that should be discussed.

A person named Varun Sethi filed an RTI against RBI on May 9 and asked the following questions:

1. You (RBI) warned people about several deals in bitcoin and cryptocross, many times (three times).

Have you made any committee for this?

RBI's Answer: No

1. Can you give us the details of the committee members?

RBI's response: We have not created and committee so we can not give any details.

1. How did you know about the risks associated with bittoine and other cryptokurus

RBI's reply: The information defined in section 2 (f) of the RTI Act 2005 is not known.
(According to this act, he said that type of information about blockchain and bitcoin, any evidence, any paper, any model or any electronic material is not available online)

1. Have you collected any information about Blockchain from another country Federal bank?

RBI's Answer: No

1. Have you taken any measures to adopt blockchain technology in the banking sector?

RBI's Answer: No

1. Do these rules and regulations apply to State Bank of Sikkim?

RBI's reply: Sikkim's State Bank falls under us, but we have not given any information to him.

Can you see RBI's replies?
They made a decision without any substantial resale which is only speculative.
We believe that cryptocarus is more likely to be regulated than restriction.
Regulations require a comprehensive set of rules which are also required at some time.
It will be regulated in India within a few months or in some years.

Hoodle Life .. !!