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Cryptocurrency not banned in India: RBI

Jan 21, 2020 18:53 IST

The Reserve Bank of India told the Supreme Court that it had not banned cryptocurrencies such as Bitcoin in India, but only ring-fenced regulated entities like banks from risks associated with their trading, the Economic Times reported. The RBI said this in a response to a petition filed by the Internet and Mobile Association of India in the apex court, which wanted it to reconsider a 2018 circular directing regulated entities not to deal in cryptocurrencies.