NPCI refuses to ban cryptocurrency in India: the decision remains with the banks

The National Payments Corporation of India (NPCI) does not intend to block cryptocurrency trading. Instead, it plans to leave the decision to individual banks and thus they can determine their own risk level.

The consequences of the COVID-19 pandemic caused colossal damages to the nation and many experts outlined the uncertainty which reigns in it. But despite the current catastrophic situation in the Asian country, trading volumes in cryptocurrencies have exploded over the past year.

However, the country continues to dabble with the idea of implementing a full-scale ban on cryptocurrency operations. The latest to provide some clarity on the matter is the National Payments Corporations of India (NPCI).

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