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NPCI leaves it up to banks to decide on blocking crypto trades

Shortpedia

Content Team
Image Credit: Inc42

The National Payments Corporation of India (NPCI), an umbrella body for retail payments, has refused to block fund movements for crypto trades and has left it to each bank’s risk and compliance team to take the call. This at a time when banks are blocking some transactions related to cryptocurrency exchanges and investments. In March last year, the Supreme Court of India overturned RBI’s 2018 banking ban on cryptocurrency.