It’s a new week and the dust has settled around the RBI’s recent crypto regulation. In today’s crypto news Things are almost back to normal from a price standpoint in India, while Pakistan follows suit. Just a bunch of regulatory news to start the week –
Dissection of RBI’s announcement
Last week, RBI released a statement for all banks and businesses registered with them to suspend all dealings with crypto accounts. Throwing the Indian crypto community into a whirlwind, thanks to the FUD. As the dust settles, here is a clearer, closer inspection of what the announcement actually means for crypto in the country.
Petition to Reverse RBI order is undersigned by 17,000
A petition on drafted on popular petition site, change.org, to reverse the RBI’s recent order regarding cryptocurrencies, has been signed by 17,000 people in under two days. The petition went up on the 5th of March.
State Bank of Pakistan Bans Crypto Dealings
In a move that mirrors that of the RBI, Pakistan’s state bank has issued a warning to all commercial banks and service providers to steer clear of cryptocurrencies. The country has out-rightly banned cryptocurrencies, making Bitcoin, Pakcoin, Litecoin, etc illegal.
Regulators in Ontario are Gathering Crypto Transaction Information
The Ontario Securities Commission are gathering information from all exchanges that operate in the province. The step comes as a response to a number of complaints about exchanges allows tokens/coins as securities.
Two Japanese Exchanges Suspended
In a crackdown, the Financial Services Authority of Japan has imposed penalties on three exchanges for bad business practices. Two out of the three exchanges have been told to suspend all activity indefinitely.
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