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Some Indian Banks Are Still ‘Arbitrarily’ Refusing to Process Crypto Transactions
Earlier this month, India’s Supreme Court delivered its verdict in a landmark case that promised to usher in a bullish era for cryptocurrency in the country. The Court ruled to overturn a circular from the Reserve Bank of India (RBI) — issued back in April 2018 — which had banned banks’ services to all crypto-related firms. Not all banks, however, appear to be complying with the ruling. On March 12, fintech lawyer Mohammed Danish filed a representation with the central bank against the “arbitrary denial” of certain domestic banks to provide services in support of the sale or purchase of crypto assets. ... (full story)