Reserve Bank of India pressured to clarify the legal status of Indian crypto exchanges

India’s Supreme Court has reversed earlier RBI guidelines that barred financial institutions from trading, now Indian crypto exchanges are seeking clarity on their legal status India’s crypto exchanges have asked the Reserve Bank of India (RBI) to offer clarity on their legal status in the country. The country’s Supreme Court reversed the RBI’s guidelines to banks and other financial institutions on March 4 this year.

But according to the India Times, financial institutions in the country appear reluctant to follow through with the SC orders because the Reserve Bank has failed to provide clarity on the matter. The India Times claims that leading crypto exchanges in the country wrote to the RBI urging for further clarity.

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