Several major global cryptocurrency exchanges are reportedly exploring ways to enter the Indian crypto market.
One source claimed to be directly involved with an exchange that is considering acquiring an Indian crypto firm and had begun due diligence for it.
The other two exchanges are in the initial stages of deciding whether to enter India and weighing their options, the publication conveyed.
However, there are reports that the government is reevaluating the ban recommendations and is setting up a panel of experts to come up with new recommendations to regulate the crypto industry.
However, the RBI told banks that its April 2018 circular which banned financial institutions from providing services to crypto businesses and traders is no longer valid.
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