HDFC, SBI Warn Customers Of Restrictions If They Deal In Cryptocurrency

libert19

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Quote from: UKprod on June 07, 2021, 02:33:22 AM

I have written on this topic and on the RBI announcements on this thread: https://bitcointalksearch.org/topic/guide-on-crypto-banprohibition-in-india-so-far-only-facts-and-press-releases-5339221

In relation to the Crypto bill, it does seems like it is proposed to be introduced in the parliament soon. However, the committee that was formed had provided it's report and the draft of the Bill in 2019. However, the report is quite one-sided and does not factor in many of the use cases that it should. I just hope some common sense prevails and the government revisits the bill before it is even introduced.

They likely will, as,

- Crypto is even bigger than last time when bill was created

- Other countries are taking positive steps regarding crypto

- There is huge money to be made for government

UKprod

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Let's create the Indie Metaverse!

I have written on this topic and on the RBI announcements on this thread: https://bitcointalksearch.org/topic/guide-on-crypto-banprohibition-in-india-so-far-only-facts-and-press-releases-5339221

In relation to the Crypto bill, it does seems like it is proposed to be introduced in the parliament soon. However, the committee that was formed had provided it's report and the draft of the Bill in 2019. However, the report is quite one-sided and does not factor in many of the use cases that it should. I just hope some common sense prevails and the government revisits the bill before it is even introduced.

Also, regarding Wazirx and Coinswitch, understand that they have now opened up deposits and withdrawals, though they might have limited option such as deposits only through Mobikwik.

pawanjain

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Nothing lasts forever

Quote from: JSRAW on May 31, 2021, 09:57:58 AM

This notification came from the RBI, everything should be okay from now on.
~snip
https://rbi.org.in/Scripts/NotificationUser.aspx?Id=12103&Mode=0

Wow, thanks for posting this here. I didn't knew RBI has made an announcement on this matter.
It's good to know RBI has even acknowledged the matter and has further made an announcement to disregard any such emails from the banks.
I had seen few people complaining about receiving such emails. Now we can tell them not to worry about it since RBI has made a clear announcement.

Quote from: avikz on June 03, 2021, 01:41:31 PM

Crypto bill will definitely be tabled in the upcoming monsoon session in the parliament and I fear that cryptocurrencies will face prohibition in India. So I would say, please don't use any Indian centralized crypto exchange as of now. Exercise extreme caution and don't go beyond p2p trading.

We will need patience to see how the things move on.

Wazirx has already stopped payments using UPI/IMPS/RTGS since they are facing banking issues. Half of the people would have already stopped depositing on wazirx due to this.
But yeah, I think this issue will be sorted soon and we will be able to use it again. Although we have read rumors about the crypto ban, I think there won't be a complete ban but may be regulation or restriction on cryptocurrencies as payments. Only time will tell how the Indian government proceeds with cryptocurrencies.

avikz

legendary

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I really hope everything will be fine after the recent circular from Reserve Bank Of India. I mean banks will not be able to freeze your account if the find or suspect crypto transactions happening in your account. However, I doubt that it will last long.

Crypto bill will definitely be tabled in the upcoming monsoon session in the parliament and I fear that cryptocurrencies will face prohibition in India. So I would say, please don't use any Indian centralized crypto exchange as of now. Exercise extreme caution and don't go beyond p2p trading.

We will need patience to see how the things move on.

JSRAW

legendary

Activity: 2184

Merit: 1540

This notification came from the RBI, everything should be okay from now on.

https://rbi.org.in/Scripts/NotificationUser.aspx?Id=12103&Mode=0

iamankit

newbie

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Merit: 1

Indian banks are doing every possible thing to stop Indian users from using crypto and now they came up with something new to create panic between users. Some crypto traders received an email threatening withdrawal of banking services because they purchased some crypto. Email cites 2018 RBI guidelines which were quashed by Supreme Court last year. Given crypto being deliberated by law makers, is this not harassment?

https://pbs.twimg.com/media/E2eLFffUcAMLnWU?format=png&name=small

Every country is heading towards future of blockchain and thinking about possible ways to adopt blockchain and meanwhile Indian banks are thinking possible ways to stop citizens or country to take a next step towards future. This is disgusting

What you guys think, is it right?

Topic: HDFC, SBI Warn Customers Of Restrictions If They Deal In Cryptocurrency (Read 120 times)