In 2018, banking regulatory body in India issued a circular to the Indian banking and financial institutes to ban any trading in cryptocurrencies. The India's crypto-association moved to the court against this decision. As the case reached to the apex court of India, the verdict was eagerly awaited by both parties. Today the apex court has overturned the circular which banned crypto-trading. It stated that the decision from banking regulators was unconstitutional. This news will have a much needed positive effect to the Indian crypto-market. Respected companies which were active in trading are slowly resuming their services.
I personally think this should be considered as a ground-breaking decision which not only decriminalized crypto-trading but also gave much needed legal status to the crypto-currencies in India.
Do you think other countries should have similar approach to the crypto?
Reference:
https://timesofindia.indiatimes.com/business/india-business/supreme-court-allows-cryptocurrency-trading-cancels-rbis-2018-circular/articleshow/74470172.cmsThis is on the right place at the right time I guess. It is needed at the moment, as you can see in some news and some social media sites where information is given freely, there is a problem in India right now important than trading crypto. Muslims are being punished for just being Muslims, I know this isn't new because in other parts like Burma, rohingya and in Palestine, Syria and some other countries too. If they retaliate in India and things gets messy, people will leave the country and economy will surely fall, leaving crypto being an option to save their money, add the NCOV being scattered all over the world. I am wondering if this is all plotted and some shady people are behind this.