India: RBI Responds To RTI On Proposed Crypto Ban Bill
In an interesting turn of events that might bring some relief from the onslaught of nearly unstoppable media FUD on Indian crypto users, twitter user Varun aka Blockchainlaw91 has released the response to the RTI filed by him just over a month ago to the Reserve Bank of India.
He has kindly shared the response document which you can view here.
To summarise it, so far RBI has not worked on a crypto ban specific draft policy for now. However, that's not to say that the Garg committee might not have done the same.
What we know currently is that there is a crypto regulatory draft that's in the works and has been recently completed and pending submission to the Finance ministry. What is unknown is if there is any element of a ban on cryptocurrencies incorporated into it.
This move was made after a article in ET which you can find here. This led to more FUD type of news and views in the crypto circles in India. Varun and his team were able to find out that this was a hoax.
Seems like the news agencies are sitting on a bunch of BS news pieces during times when they don't have anything concrete to write about. So be careful not to fall trap to mainstream media news.
I'll be back with more information on the same but meanwhile please watch the following video from Varun to completely understand the situation as well as the responses in the RTI.
If you like my work kindly resteem it to your friends. You may also continue reading my recent posts which might interest you:
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Things moving around Cryptos now. Good to see more frequent updates. Hope to see some positives soon.
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