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Benzinga
Benzinga
World
Navdeep Yadav

Why India's Crypto Lobby Won't Legally Challenge Central Bank's Curbs On UPI

India Crypto Brian Armstrong Bitcoin Coinbase RBI Reserve Bank of India

Internet & Mobile Association of India (IMAI), a body representing the interests of Indian crypto investors, said that it has no plans to file a legal challenge against the Indian central bank after it restricted the use of UPI for crypto exchanges.

What Happened: Earlier, Coinbase Global Inc (NASDAQ:COIN) CEO Brian Armstrong had called India's central bank action of "shadow banning" the use of UPI by cryptocurrency exchanges a violation of India's top court ruling.

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