Cryptocurrency adoption prohibited by Indian banks; force customers to sign contract

The Reserve Bank of India, India’s central banking institution had prohibited the banks of the country from providing any assistance or services to cryptocurrency business. Following this, the banks in India are taking things one step ahead by asking customers to sign contracts stating that they will not use cryptocurrencies of any kind as a part of their new terms and conditions of service agreements, reported Bitcoin.com.

The banks are taking such steps to discourage people from adopting cryptocurrency on the whole. According to the reports, the new course of action is forcing the customers to choose between banks and crypto. The adoption of crypto is getting difficult in the country even though many hope to see cryptocurrency overtake the traditional banking system, it is tough to realize this dream due to such stringent actions.

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