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HDFC Bank has disallowed its barter from affairs Bitcoins, cryptocurrencies and basic currencies through the bank’s credit, debit and prepaid cards.

Reuters.

In a annular to the HDFC Bank customers, it said: “You may be acquainted of the accretion all-around apprehensions apropos Bitcoins, cryptocurrencies and basic currencies. The Reserve Bank of India has additionally cautioned the accessible apropos the abeyant economic, operational, acknowledged and aegis accompanying risks associated in ambidextrous with such currencies.”

“To ensure our customer’s security, we accept absitively to not admittance acceptance of HDFC Bank Credit, Debit and Prepaid Cards appear acquirement or trading of such Bitcoins, cryptocurrencies and basic currencies, on merchants doubtable to be ambidextrous in crypto-currency or online adopted barter trading or both,” the annular added.

Earlier in mid-February, Citi Bank had banned its barter from affairs cryptocurrencies application acclaim and debit cards.

It said in an email circular: “Given concerns, both globally and locally including from the Reserve Bank of India, admonishing associates of the accessible apropos the abeyant economic, financial, operational, legal, chump aegis and aegis accompanying risks associated in ambidextrous with bitcoins, cryptocurrencies and basic currencies, Citi India has absitively to not admittance acceptance of its acclaim and debit cards appear acquirement or trading of such bitcoins, cryptocurrencies and basic currencies.”

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Read added on News & Analysis by Firstpost.

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