No, Rbi has not banned Bitcoin or any other cryptocurrency in India.
However, Rbi gave certain rules and regulations on the cryptocurrency and the banks dealing with cryptocurrency. Though Rbi believes that cryptocurrency could be a positive sign in the technology and development.
It was interesting that bank have not issued any noticed to the back holders for Indian exchanges, -zebpay mentioned.
The biggest challenge in indian audience is that majority of bitcoin holder are not very much use to these exchanges and lot of them worried before converting to INR to Bitcoin or vise verse, and worried that if their funds reach to bank account or not.
The rules of RBI going to push grow the bitcoin buy/sell with cash and other service –consequently increase the case of thief and fraud with it.
Lot of crypto exchange have released their official statement regarding the RBI decisions as following :-
Indian Exchanges Statement after RBI Bans Banking Services
Zebpay
Koinex
CoinSecure
UnoCoin
Coinome
WazirX
For Further Reading
- Nirav Modi of Bitcoin Amit Bhardwaj caught Scamming Rs 2000 Crores!
- Getting Started With Mining & Best Mining Hardware March Edition 2018
- Best Tips To Earn Success in Bitcoin & Other Cryptocurrency
