Financial Repression Tracker

Rules that steer savings into government debt or hold returns below inflation, country by country.

Block · Real asset restrictions

Exclusion of crypto users and exchanges from banking

What it is
Bar banks and payment institutions from providing accounts, settlement, credit or other services for crypto dealings, even where private ownership is not itself banned.
Why it counts
Removing access to fiat payment channels makes it harder for savers to enter or exit alternative crypto assets.

When it was in force

  • India: 2018, historical; its end is not documented
  • China: 2021, historical; the rule may be older than the cited document; its end is not documented

2 examples

  1. India

    2018Historical

    Its end is not documented · As cited: From 6 April 2018 (RBI circular)

    RBI-regulated entities were barred from dealing in virtual currencies or facilitating customer dealings.

    RBI Circular DBR.No.BP.BC.104/08.13.102/2017-18, 6 April 2018Primary source
    “entities regulated by the Reserve Bank shall not deal in VCs or provide services”

    rbi.org.in (opens in a new tab)Checked: quote matched on the page by script

    India today: index 60.6

  2. China

    2021Historical

    The rule may be older than the cited document · Its end is not documented · As cited: PBOC regulatory talk with banks and Alipay

    The PBOC directed banks and payment firms to stop account and settlement services for crypto activity.

    Notice on Guarding Against the Bitcoin Risks; Announcement on Preventing Financing Risks Related to Token Offerings; PBOC regulatory meeting June 2021Primary source
    “not to provide products or services regarding account opening, registration, transaction, clearing and settlement for related activities.”

    pbc.gov.cn (opens in a new tab)Checked: quote matched on the page by script

    China today: index 59.5

Examples and their dates reviewed .