The central bank of India (RBI) today, directed all the regulated bodies to not to provide services to any individual and business entities that use or deals in virtual currencies within a specified time period i.e. about 3 months.
RBI bans regulated entities to deal with crypto users
Reserve Bank of India (RBI) has barred the regulated entities including banks from providing services to any individual or business entity that deals with virtual currencies.
Today has been the first bi-monthly Monetary Policy Statement of 2018-19 of RBI, where the central bank has given a 3 months period to sever their ties with the entities using virtual currencies.
Yes, I also got this news and this is very shocking news for me also because Now my entire life style depends on BTC only and being the resident of India, I was very worried about the ban but let me clear u one thing first that this ban is not on permanent basis, this is only temporary ban because RBI is not sure about that volatility of BTC, once they come to know, they will surely remove the ban.