SBI may suspend credit cards used for crypto transactions
Cited the RBI’s long-standing anti-crypto stance as the reason behind the decision
Earlier, ICICI Bank and Paytm Payments Bank had decided to block crypto transactions
Globally, the crypto market cap rose ten times during the pandemic
It grew from more than $200 Bn in March 2020 to $2 Tn in mid-May this year
RBI has not given any license to entities regulated by them to operate in cryptocurrency schemes
SBI Card will not allow the purchase or trading of such cryptocurrency
