Prohibition on dealing in Virtual Currencies (VCs)

The Reserve Bank of India Vide Notification No RBI/2017-18/154 DBR.No.BP.BC.104 dated 6th April 2018 decided that with immediate effect, entities regulated by the Reserve Bank shall not deal in VCs or provide services for facilitating any person or entity in dealing with or settling VCs. It has also stated that the regulated entities which already provide such services shall exit the relationship within three months from the date of this circular

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