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Cryptocurrencies | RBI | Indian Regulations | India

Cryptocurrency and Indian government seems to be on an on-again, off-again relationship with each other. Now that the hearing of RBI’s imposed ban is around the corner, a report published the central bank suggests that the dynamic duo has become friends again.

Last week, RBI published a report titled ‘Report on Trend and Progress of Banking in India 2017-18’. The report states the current stance of the central bank over cryptocurrencies, that they are not a threat. The report reads:

“The Financial Stability Board (FSB) has undertaken a review of the financial stability risks posed by the rapid growth of crypto-assets. Its initial assessment is that crypto-assets do not pose risks to global financial stability currently. The market continues to evolve rapidly, however, and this initial assessment could change if crypto-assets were to become ...

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