Today, the Supreme Court of India issued a judgment that reverses the central bank’s ban on cryptocurrency trading. However, the respite could be short-lived with new legislation in the works.
Last year, the Reserve Bank of India (RBI) sent out a circular to regulated entities banning dealings in crypto, citing a threat to the banking system. Over the past few years, the RBI advised investors to refrain from trading in cryptocurrencies due to risks such as price volatility.
While holding crypto was not technically banned, banks and other clearing and settlement firms were barred from providing services to trading houses.
Article continues …
Want the full story? Pro subscribers get complete articles, exclusive industry analysis, and early access to legislative updates that keep you ahead of the competition. Join the professionals who are choosing deeper insights over surface level news.
