This month, the Reserve Bank of India (RBI), the country’s central bank, initiated a major crackdown on the purchase and trading of cryptocurrencies such as Bitcoin in India. Following global precedentsThe RBI move comes as governments across the globe are increasing restrictions on virtual currencies. Several U.S. banks banned the use of their cards for purchasing virtual currency. Should they exit crypto in the three month window stipulated, or should they hold and utilize potential loopholes when needed, such as trading crypto for crypto, or trading cash for crypto abroad? As for India’s crypto exchanges, will they be forced to shut shop?

Source: Forbes April 19, 2018 03:00 UTC