ICYMI: India’s central bank applied “informal pressure” on Coinbase India cryptoexchange
According to the CEO of the company, Brian Armstrong, in a few days after the launch, the company had to disable UPI after being informally pressured by the Reserve Bank of India.The UPI is a system developed in India for bridging fiat and digital assets.
The development of it was backed by the central bank of the country as it utilizes real-time transfers between bank accounts. Bloomberg also added that the RBA made no comment on this matter.Back in April, the U.S.-based crypto company expanded their operations in India by implementing a state-backed payment interface. With the central bank-backed system, users could pay in rupees and purchase
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