Bank of India lawyer: Bans banks from processing crypto transactions to ensure banking system is not affected

According to the Economic Times, the Reserve Bank of India continued to defend its 2018 notice in the Supreme Court, which instructed banks to stop any transactions involving cryptocurrencies. The RBI described its views through senior lawyer Shyam Divan, stating that the notice in 2018 was part of its conscious policy decision to ensure that the banking system is not protected from any involvement with cryptocurrencies, including those that exhibit extreme "volatility" Influence of the payment system.