Supreme Court Of India Lifts Ban On Cryptocurrencies

The Economic Times reports that after a lengthy trial, the Supreme Court of India lifted the cryptocurrency ban introduced by the Reserve Bank of India (RBI) on April 6, 2018. The country's central bank previously banned state-owned banks from servicing cryptocurrency exchanges and other companies that deal with the digital assets. After a court decision, the situation should change.

It is expected that after a decision by the Supreme Court, tightening the regulation of cryptocurrencies will not follow. It has already become known that a number of crypto companies that left India as a result of the ban on RBI plan to return to India. For example, Singapore-based Zebpay, which left India due to a strict legal base, is returning to the country with a new team and a new CEO.

Nischal SHETTY, CEO of the famous Indian exchange WazirX, believes that the next steps for the crypto community should be working together with the government to ensure proper laws regarding the crypto industry in the country.

Image courtesy of Coinwire

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