Indian Central Bank and Financial Intelligence Unit Review Offshore Crypto Payment Cards

Techub News reports that the Reserve Bank of India and the Financial Intelligence Unit are reviewing offshore crypto payment cards. These cards convert cryptocurrency to rupees for spending via Visa and Mastercard, involving companies such as RedotPay. Some Indian users have reported recent deactivation of cards or inability to access related websites. The review was prompted by clues from the Bangalore-based blockchain research institution Digital South Trust, which claimed to have obtained RedotPay virtual cards and completed domestic transactions. RedotPay is still preparing for a potential IPO in the United States. Visa, Mastercard, and the Reserve Bank of India did not respond to requests for comment. (Crypto.news)