On June 24, the Reserve Bank of India recently clarified that its old notice prohibiting payments related to cryptocurrencies is no longer valid. People familiar with the matter said that although the National Bank of India, HDFC Bank, Axis Bank and ICICI Bank and other large banks are still reluctant to provide services, some smaller banks such as IDFC Bank have begun to provide services for some exchanges. Now, more and more small banks feel that the market is sluggish and have banned cryptocurrency accounts.

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