India has strict laws on tender or cash. Personal foreign currency holdings are severely restricted. So, this doesn't come as a surprise at all.
That said,
> The regulator, however, decided that it will promote the use of blockchain – a public ledger that serves as the backbone of bitcoin – in financial services for strengthening transparency and improving inclusion.
As reported earlier, Wall Street is already cooling down on the blockchain hype:
So that's what I should've done while I was there so we could've gotten a legit database to handle our yield curves processing! We were expected to do everything in Excel, and if we were lucky, MS Access :|
That said,
> The regulator, however, decided that it will promote the use of blockchain – a public ledger that serves as the backbone of bitcoin – in financial services for strengthening transparency and improving inclusion.
As reported earlier, Wall Street is already cooling down on the blockchain hype:
https://www.reuters.com/article/us-banks-fintech-blockchain/...
So, what plans does the RBI have for blockchain?