Vide this circular the RBI advised Banks that its previous circular dt. 06th April, 2018, w.r.t. Cryptocurrencies, was no more valid in view of the judgement of the Hon'ble Supreme Court in WP (C) 528/ 2018. The RBI further advised banks to carry out due diligence w.r.t. KYC, anti- money laundering etc. Subsequently, there has not been any development, and Cryptos continue to be unregulated in India. Certainly, they aren't illegal either.
The user agrees that he/ she is accessing the website of DB law Offices for informational purposes only, on his/ her own volition, and has not been directed to this website unintentionally, accidentally or otherwise. Nor has the user landed up in this website as a result of any solicitation, advertisement or other promotional activity. The contents of this website is for knowledge and information only, and does not constitute any legal advice or guarantee or warranty of any sort thereof.
We use cookies to analyze website traffic and optimize your website experience. By accepting our use of cookies, your data will be aggregated with all other user data.