India forbade banks from operating with cryptocurrencies
The entities regulated by the RBI must not provide services or have links with individuals or companies that work with this type of assets
The Reserve Bank of India banned the country’s banking entities from operating with individuals or companies that work with cryptocurrencies.
“While virtual currencies have the potential to improve efficiency and inclusion in financial systems, they also raise concerns regarding consumer protection, market integrity and money laundering“, the RBI said in a statement.
“If they grow beyond a certain size, they can also jeopardize financial stability” (…) “The Reserve Bank has repeatedly warned users, holders and operators of cryptocurrencies, including bitcoins, about various risks associated with the management of such virtual currencies”, the central bank added.
Likewise, jt informed that the entities regulated by the RBI should not provide services or have links with individuals or companies that operate with cryptocurrencies. Those who already do, will have a period of three months to cease the relationship.
N. Moncada
Source: dpa
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