Domestic cryptocurrency players are moving overseas and drawing up contingency plans for their survival after the last week's directive by the Reserve Bank of India (RBI) banning banks and financial institutions from dealing with virtual currencies. Crypto players are looking at roping in non-RBI regulated partners like state-owned India Post offer crypto-to-crypto currency trading for their continued existence. We can also explore to bring other country's fiat currency on our exchange when we move (overseas)," said Thakral. His belief stems from the fact that the RBI has set up a committee to study the feasibility of digital fiat currency. This fiat currency can then be used for exchanging it with other cryptocurrencies on exchanges like us.

Source: dna April 08, 2018 23:37 UTC