CryptoET Techabout 2 hours ago
RBI Blocks Access to Crypto Cards
4 min read
The Reserve Bank of India and Financial Intelligence Unit have blocked access to pre-paid crypto cards for Indian residents. This action follows alerts from Digital South Trust regarding unauthorized domestic transactions. The cards, costing $40-50 with 3-year validity, allow users to convert stablecoins into rupees for payments and ATM withdrawals, bypassing local banking radars and violating FEMA regulations.
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