SBI bans traders from using its UPI to Buy and Sell cryptocurrency

Bitcoin News

India’s biggest lender, State Bank of India (SBI) has blocked cryptocurrency exchanges to buy and sell crypto via their UPI platform.

Before SBI, HDFC has also imposed some regulations on the cryptocurrency exchanges in May 2021.

Prices of Major Altcoins like Ethereum, Cardano, Ethereum Classic Rises

For crypto lovers, these remarks come at an untimely time with the Union Cabinet only weeks from taking up a bill to control Cryptocurrency standards and their youngster market in India.

Also Read: ‘Ethereum Killer’ Solana Jumps to 6th Spot in Cryptocurrency Market

In India, almost 1.5 crores investors hold around 1500 Crores cryptocurrencies. The number of crypto lovers in India is increasing day by day after the huge rally in Bitcoin from the last year.

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