🇮🇳 Indian central bank tells court cryptocurrencies cannot be considered currency or money
In a hearing related to whether cryptocurrencies are legal in the country, the Reserve Bank of India filed an affidavit stating that it could not decide on the legality of these currencies because they are neither 'currency' nor 'money' under existing rules. Furthermore, the bank claims that cryptocurrency cannot even be validated as a ‘payment system’ since it is peer-to-peer and does not involve a service provider.
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