2020 08 20 UKcvFc

Crypto India: NPCI Refuses to Ban Cryptocurrency Trades Via UPI

The National Payment Commission of India (NPCI) has refused to put a stay on the crypto transaction via UPI transaction amid growing demand from the Indian banks. The Supreme court of India last year had overruled the RBI banking ban following which most of the Indian crypto exchanges integrated direct UPI payment option for customers for deposits 8nstead of buying crypto via stable coins.
Despite the Supreme Court verdict, many crypto users have complained about getting bank notices for crypto-related activities amid rumors of a possible blanket ban from the Indian government. The banks had approached NPCI for restricting direct UPI transactions, however, the committee has put the onus bank themselves to take the call based on their legal and compliance department advice.
Almost half a dozen banks have directed payment gateway operators to blacklist merchants involved in the trade of cryptocurrencies. These banks restrict customers from using online fund transfer methods such as net b

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Źródło: https://coingape.com/crypto-india-npci-refuses-to-ban-cryptocurrency-trades-via-upi/

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