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The hesitancy displayed by top banks to extend their services and support to cryptocurrency exchanges, despite the RBI circular clarifying that payments services cannot be denied, hasn’t gone down well with the crypto industry.
RBI’s latest circular comes as a great breakthrough for cryptocurrency exchanges and investors. RBI has clarified that its earlier order has been quashed by the Honourable Supreme Court and banks are not to deny cryptocurrency transactions;
The withdrawal of the banks’ support to cryptocurrency exchanges has caused a lot of disruption in transactions. Leading exchanges seek to resolve this matter through the Supreme Court’s intervention. @ashishmehta82 (Co-Founder, DigitX India) views on the same. @EconomicTimes
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Appeared in @EconomicTimes
The pressure on cryptocurrency exchanges is mounting as investors show their dissent, after the uncertainty around cryptocurrencies heightens & the withdrawal of the banking system’s support. @ashishmehta82 (Co-Founder, DigitX India) says that amidst all this..
The recent dip in the cryptocurrency market has different facets to it. Get an in-depth understanding of the situation and the reasons that triggered it, with this article authored succinctly by @ashishmehta82 (Co-Founder, DigitX India) for @OutlookMoney.
While the crypto markets dived, @ashishmehta82 (Co-Founder, DigitX India) says it remains to be seen who will be smiling at the end, the ones who panicked and sold or the ones who bought the dip. Time will tell, @FinancialXpress#digitxindia#cryptocurrency#exchange
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#digitxindia#cryptocurrency#exchange#decentralised#Bitcoin
DigitX India Co-Founder, @ashishmehta82 voiced his views on the current upheaval faced by the Indian #cryptocurrency community as leading banks have stopped payment gateways from processing cryptocurrency transactions.
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We would not like our country to turn a blind eye to innovation and be decoupled from the global economy. " How do you think this move by banks will affect the cryptocurrency space? Let us know in the comments below. As featured in @TheQuint
Cryptocurrency exchanges are facing a challenge with banks stopping transactions through payment getaways. It is not in the best interest of the industry that is seeing a surge in investors and trading.
When asked if Ashish thought this was a step towards crypto ban in India, he added, “We have always believed that the space of decentralised consensus should be adopted without any delay in order to foster the economic boom expected with Industry 4.0 transformation.