RATE Group | U-turn on bitcoin? Government panel may allow cryptos with riders
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U-turn on bitcoin? Government panel may allow cryptos with riders

13 Jun U-turn on bitcoin? Government panel may allow cryptos with riders

Posted at 08:44h in Bitcoin News by

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Crypto-currency followers, here’s a piece of good news for you.

A panel formed by the government to look into crypto-currency does not seem to be in favour of banning it. Instead, it may suggest allowing crypto-currency with riders, ETNow reported quoting Cogencis.

On April 6, RBI through its notice titled ‘Prohibition on dealing in virtual currencies’, mandated banks, e-wallets and payment gateway providers to withdraw support for crypto-currency exchanges and other businesses dealing with virtual currencies (VCs) in India.

Banks, in turn, forced exchanges and traders to stop using their accounts for trading in VCs. This led them to approach the Supreme Court against the regulator’s move. The case is scheduled for hearing on July 20.

Lack of proper stakeholder consultation and absence of…

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