RBI to Ban Regulated Entities From Dealing With Crypto

The Reserve Bank of India has given 3 months to regulated entities like banks to unwind their positions with the entities related to cryptocurrencies
05 April 2018   324

The Reserve Bank of India has forbidden regulated organizations to provide services to any private person or company whose activities are related to cryptocurrencies. This is reported by Bloomberg Quint.

The central bank gives such organizations, including banks, 3 months to break off relations with cryptocurrency companies, said the deputy head of RBI Bibhu Prasad Kanungo.

Thus, the last decision of the regulator is aimed at undermining the infrastructure that serves traders and other members of the market The possession and trading of cryptocurrencies is not currently a violation of the law.

At the same time, the regulator intends to support the blockchain based solution development for financial market to increase transparency.

Despite the ban imposed, RBI supports the idea of ​​issuing state crypto-currency.

These are issued by the central bank and are considered the liability of the central bank. They will be in circulation in addition to the paper currency that we have. It also holds the promise of reducing the cost of printing notes.
 

Prasad Kanungo

Deputy Governor,  RBI

The Reserve Bank of India has set up a special committee, which is studying the possibility of issuing state cryptocurrency. 

Change.org to Mine for Charity

According to the calculations, if 10k computers will run the minning screensaver for 12 hours a day, the charity fund will receive $10k monthly
18 July 2018   75

Social platform for petitions Change.org announced the launch of a screensaver that mines Monero on users' computers. All tokens will be transferred to the charity fund of Change.org. This is reported by Coindesk.

This initiative was launched in partnership with the marketing agency Tracelocke Brazil.

Representatives of Change.org report that the screensaver will consume resources only when users do not use the computer. According to their calculations, if 10 thousand computers will run the screensaver for 12 hours a day, the charity fund will be transferred $ 10 thousand monthly.

At the moment the program is available only for Windows users and the platform did not report on the release plans for the version for macOS.

Note that at the end of April, a similar action was launched by the Australian unit of the United Nations International Children's Emergency Fund; (UNICEF). The website "Page of Hope" mines Monero cryptocurrency.