Reserve Bank of India Denies Knowledge, Involvement in Draft Bill to Ban Crypto Entirely
The RBI says it has not received any communication from the government about a draft bill that would ban cryptocurrencies.
Varun Sethi, a lawyer specializing in blockchain, filed a Right to Information request with the RBI following a report by India media outlet the Economic Times in April that suggested several government departments have backed a complete ban on the “sale, purchase and issuance of all types of cryptocurrency.”
Although the RBI refused to answer some of Sethi’s questions, the bank confirmed it has had no communication from central government about the proposed law — and said it had not received a copy of the draft bill.
India has been a hot place for media to share rumours about ban in cryptocurrencies and this news giives some relief to indian cyrpto community. I have seen few articles recently saying that Indian Govt is working on prepare a bill that will ban Crypto completely and this was creating in FUD in the market.
After reading this news at least we can relaxed that there is nothing like this in process and we can still hope for some positive movement by the Govt and RBI in coming months.
Unfortunately Media is not doing good work and paying dirty to get some cheap TRP by spreading rumours. I would suggest not to reply on any such unless you get any offical statement by the Govt/official body.
Here is the copy of RTI answers responded by RBI for Banning of Cryptocurrency draft.
Thank you.
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