Reserve Bank of India

While the intent of the government, to protect user privacy, is fine but what makes it controversial is the mandate to store data 'only' in India.

While there are many options for investors to trade in virtual currencies like peer-to-peer, crypto-to-crypto, crypto-to-cash, offshore exchanges and use of international bank accounts, panic has no room to play.

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RBI crackdown is pushing entrepreneurs dealing with cryptocurrency to overseas hubs, what's does the future look like

As of now, the banks are still supporting the deposits and withdrawals and this may exist for next 3 months before the RBI guidelines come into effect.

Relocating to a new country or offshore wouldn't be an easy task as there would be significant tax and regulatory ramifications

RBI has asked payment operators to ensure their data is stored in India only within six months

RBI said that it will not deal with or provide services to any individual or business entities that deal with virtual currency

"Post demonetisation, the growth of digital banks in India has contributed actively to the rise of digital transactions"

NBFCs have registered a robust growth, a CAGR of 19% over the past few years to be precise

Regulatory sandboxes refer to a special set of rules that encourages innovative companies to test their products and services in a controlled environment

"We need to improve the functionality of the Parliament. MLAs with criminal cases should not be allowed to hold office."