BREAKING NEWS | Indian Banks Warns Users Of Restrictions | Is Crypto Banned? | Fin91 | Neeraj Arora

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Disclaimer: We are promoting financial literacy in India. The content posted is purely for educational and entertainment purpose. We are not a SEBI registered financial advisor. Hence, we are not providing financial and investment advisory service. You are and will be solely responsible for your own money and decisions you take. Please consult a SEBI registered advisor for any kind of investment / financial advice. Cryptocurrency is an unregulated asset in India, please invest at your own risk. You will be solely responsible for your own money and decisions you take.

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Hi Guys! In this video we have an important update for you related to cryptocurrency.

Crypto has been gaining popularity in India recently, especially among the younger generation, which sees cryptocurrencies as a novel investment option.

However, the country hasn’t come up with a consistent regulatory approach yet and rumors of a possible crypto ban have been hovering around India over the recent months.

The government recently said that it plans to introduce a law banning trade in all cryptocurrencies — except for those issued by the government itself.

Banks in India have started questioning their customers on crypto related transactions. Crypto traders & investors are receiving mails from banks asking about crypto-related transactions and warning their accounts may be closed.

The email sent by banks clearly state that virtual currency transactions are not permitted by RBI. However Supreme Court overruled the Reserve Bank of India’s decision to ban banks from supporting crypto transactions.

But in spite of the court’s ruling, crypto trading is halted by a number of banks and many banks have also refused to provide their services to Crypto Exchange.

To know more in detail watch the video till the end. Make sure to Like Comment & Subscribe for more such informative videos.

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