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04/29
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RBI approved the idea of crypto-sandpit for blockchain startups RBI approved the idea of crypto-sandpit for blockchain startups

The Indian central bank prohibits cryptocurrency, but it launches a fintech sandbox for a number of startups. Projects associated with the blockchain and smart contracts are allowed to run.

The Central Bank of India expects to support projects related to:

  • money transfers;

  • digital identification;

  • retail and mobile payments.

Our ATBCoin team recalls that projects related to cryptocurrency, exchange, purchase/sale, investment, ICO are still banned. Many startups filed petitions to the Supreme Court. This issue is still under consideration. The final decision will be made later.