Published On: Tue, Apr 10th, 2018

A "Law-Abiding" Blockchain Alternative for India’s Financial Exchanges

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On April 5, 2018, a blow to bitcoin occurred when the Reserve Bank of India (RBI) banned banks and regulated financial entities from dealing with cryptocurrency.Despite the media report that 10 percent of Bitcoin transactions happen in India, the news does not come as a surprise, considering how the nation has clamped down on cryptocurrency regulation so far this year. Since 2013, the nation’s financial regulators have warned about the difficulties of controlling cryptocurrencies and, like most other stricter regulatory governments, preventing the new asset classes’ most nefarious use cases: money laundering and terrorist financing. The Indian regulators’ treatment …

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