ICICI Bank shuts the LRS door for crypto traders – Economic Times

ICICI Bank shuts the LRS door for crypto traders – Economic Times

Mumbai: Many cryptocurrency traders, shut out of the Indian crypto market by local banks, are now being restrained from buying virtual currencies from overseas markets. India’s largest private sector bank ICICI is telling customers remitting funds to invest abroad to give a declaration that the money will not be used to buy Bitcoin or other cryptocurrencies. For this, the bank has tweaked its ‘retail outward remittance application form’ that