Crypto currency status in India
Director of the Reserve Bank of India (RBI) has signalled that virtual currencies like bitcoin won’t be allowed in India. “Our current position on bitcoins is that we will not be using it for any payments and settlements…though the technology underlying crypto-currencies will not end,” said S Ganesh Kumar, executive director of the RBI, at a conference in Mumbai on Nov. 06.
Good info.
Thank you!. It's a backlash to crypto community. But hopefully India will change its stance. Since the potential for crypto is huge in India.
Is excellent India is more positive than China with bitcoin postures, but the more worry are the banks Lol.
I understand their position. Bitcoin is way too volatile to be used for a central bank. Maybe in 10 years when the value has stabilized.