India’s Central Bank Ordered Uninhibited Crypto Trading

It seems that India did not actually ban Bitcoin and cryptos and it was all just about massive FUD. Check out this relevant post below.

India’s Central Bank (RBI) has ordered commercial banks to not in any way hamper crypto trading in a new circular.

New important circular in India

“It has come to our attention through media reports that certain banks/ regulated entities have cautioned their customers against dealing in virtual currencies by making a reference to the RBI circular DBR.No.BP.BC.104/08.13.102/2017-18 dated April 06, 2018,” the bank said before adding:

“Such references to the above circular by banks/ regulated entities are not in order as this circular was set aside by the Hon’ble Supreme Court on March 04, 2020 in the matter of Writ Petition (Civil) No.528 of 2018 (Internet and Mobile Association of India v. Reserve Bank of India).”

The same notes also said: “As such, in view of the order of the Hon’ble Supreme Court, the circular is no longer valid from the date of the Supreme Court judgement, and therefore cannot be cited or quoted from.”

Check out TrustNodes’ complete notes. 

In other news, Scott Melker shared a video featuring Michael Saylor on his social media account. Check out the tweet that he shared below.

Someone said: “Thank you so much for posting this video. I am only in crypto market for 6 weeks. It’s been the most amazing, bloody, costly, mentally stressful 6 weeks. But the same time, I found that I am actually stronger and more resilient than I thought. I will not give up on crypto.”

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I am a technical writer, author and blogger since 2005. An industry watcher that stays on top of the latest features, extremely passionate about finance news and everything related to crypto.