Have been fighting for 2 years

The news has spread like wildfire on social media in recent hours. It is true that the Supreme Court in the India has lifted a ban imposed by the Reserve Bank of India, (RBI) (The Reserve Bank of India), that was first imposed in April of 2018. This ban meant that no bank were allowed to serve or provide services to customers connected to cryptocurrency.

This was met with great opposition from, crypto exchanges and startups that have been struggling to undo this for almost two years. The Supreme Court has now agreed, and states that RBI’s ban from April 6, 2018 is unconstitutional.

A day of joy

This is of course well received in India. The ruling is a big boost for cryptocurrency investors and companies in the country, where government is already considering stringent regulations. There is a separate hearing in the Supreme Court, which deals with the regulation of cryptocurrency. There is no doubt that today’s news makes stricter regulations less likely.

Kunal Barchha of CoinRecoil, a crypto exchange in India, says in the morning that they will now discuss with potential investors:

“Now crypto traders, investors, miners, can proudly speak up about what they do for a living. Now they are being judged as criminals ”

Remember to follow us on Twitter and Facebook.