India's Central Bank Reiterates 'Prohibition-leaning' Stance on Cryptocurrencies, Seeks Ban on Bank Holdings

On the 8th, it became clear through a government document obtained by Reuters that the Reserve Bank of India (RBI) has once again asserted its 'prohibition-leaning' policy on cryptocurrencies. The country's tax authorities have also warned that transactions through offshore exchanges are making it difficult to track taxation. According to documents dated May and June, the RBI has directed banks and financial institutions to refrain from holding, trading, or exposing themselves to cryptocurrency assets and privately issued stablecoins...