Some Indian banks have suspended their services to the crypto industry after the RBI said crypto was not banned.

According to News.Bitcoin, India's central bank, Bank of India (RBI), today warned several Indian banks that the cryptocurrency ban is no longer in effect, but some Indian banks are dropping out always cryptocurrency activity to their customers. After ICICI Bank, Yes Bank and Paytm Payments Bank, IDFC First Bank has become the latest bank to stop providing services to crypto companies. However, the government and central bank of India have acknowledged that Bitcoin and other cryptocurrencies are not banned in India. Sathvik Vishwanath, CEO and co-founder of cryptocurrency exchange Unocoin, added: “IDFC Bank has joined several levels of other public banks and they have stated that they do not provide services to crypto companies. cash". After a thorough investigation, the Bank of India clarified that banks could provide services to cryptocurrency companies, but the banks immediately withdrew. The crackdown on these banks could mislead investors and alarm crypto investors. In the latest news, Bank of India HDFC and SBI Bank have warned consumers not to trade cryptocurrencies, referring to Bank of India's 2018 deletion notice.