However, it has not received approval to launch full-fledged commercial operations and has been running a pilot since early 2018. Facebook's libra cryptocurrency will not be available in India because regulations do not allow the banking system to be used for digital currency transactions, a source has said. Furthermore, Facebook has not filed an application for its cryptocurrency with the Reserve Bank of India, another source revealed. The company is also yet to file any applications related to its blockchain technology and distributed ledger technology, which are being developed by IBM as part of its Blockchain Technology Incubator, according to sources.
Facebook's libra cryptocurrency will not be available in India because regulations do not allow the banking system to be used for digital currency transactions, a source has said. Furthermore, Facebook has not filed an application for its cryptocurrency with the Reserve Bank of India, another source revealed. The company is also yet to file any applications related to its blockchain technology and distributed ledger technology, which are being developed by IBM as part of its Blockchain Technology Incubator, according to sources.