india does not ban bitcoin
This weeks press release by the Reserve Bank of India has caused quite a stir. Depending on how one interprets the message, it seems the RBI wants to ban all Bitcoin trading. That is not the case, although their ultimatum is still rather significant. As of April 5th, the RBI has severed all ties with its own regulated entities and anyone dealing with cryptocurrency.
For banks servicing cryptocurrency companies, a big deadline looms overhead. All of these institutions have a maximum of three months to cease the support. If they do not adhere to this deadline, the bank in question is no longer a partner of the RBI. It is a fear-mongering tactic, although one that is not necessarily fatal.
According to Unocoin, there isnt much to be worried about. There is no ban on Bitcoin and no indication the RBI deems it an illegal currency. No funds have been frozen either, and exchange users can continue to use the platform as they always have. With no banks alerting Unocoin of any impending changes, business will resume as normal until stated otherwise.
here is my source
https://www.newsbtc.com/2018/04/07/no-india-not-banned-bitcoin-trading-government-confirms/