Indian Banks Act Slow to Accept Crypto Industry Despite RBI’s Approval

[Tnoy30]

Indian banks are reluctant to work with crypto firms, even though RBI clears the air.
The repeal of a blanket ban on cryptocurrencies in March by India’s central bank, the Reserve Bank of India, has been a boon to the thriving crypto industry in India — with the launch of new exchanges being a catalyst.

This is despite the country being one of the most severely affected nations by the COVID-19 pandemic, which has led to a deepening economic crisis across the nation. For investors and fintech innovators alike, cryptocurrency and blockchain technology have proven to be a much-needed respite in these challenging times.
Read on: https://cointelegraph.com/news/indian-banks-act-slow-to-accept-crypto-industry-despite-rbis-approval

[Delgado]

Unfortunately, even after the court ruling, the Reserve Bank of India did not change its negative stance on cryptocurrency. In addition, information appeared that the government of this country is preparing a bill on the complete prohibition of the circulation of cryptocurrency. However, things may still change. The situation with the legalization of cryptocurrency in the world is changing, and in general for the better.