Reserve Bank of India is India's central bank, which controls the issue and supply of the Indian Rupees. On previous report, RBI announced that cryptocurrency is still open, but advising citizens don't rely on it. This country is more friendly in Blockchain rather than in cryptocurrency.

RBI said that they have no plan to ban any cryptocurrencies such as Bitcoin, Ethereum and other altcoins such as Project Hydro, IDall, Uptrennd, Basecoin, Cosmos/Atom and more. In fact, they categorized cryptocurrency under financial instruments which entitles such as banks. But the RBI or Reserve Banks of India said that they will not provide any services to cryptocurrency trading markets. 

In addition, RBI said that this is too risky and worries to their constituents when it comes to cryptocurrency trading.

On 2018 IAMAI or the Internet and Mobile Association of India, demands to removes all banned businesses including the cryptocurrency trading market and should not be Illegal within the country. Legal Expert advised that the IAMAI could win vs the RBI in the Supreme Court and they don't see any evidence to ban cryptocurrency trading in India.

In fact, there's a new blockchain Innovation hub launched in Bengaluru India.

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