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

Published 06/27/2020, 03:16 AM
Updated 06/28/2020, 05:40 AM
Indian Banks Act Slow to Accept Crypto Industry Despite RBI’s Approval

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.

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