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.cmsIt will be good if other country will think the same to what India has decided because every country has it's own unique regulation and views with regards to crypto currencies. In our country, crypto are not legal nor being banned as we can freely use crypto using our local exchange but I will happy if time will come that crypto will be considered as legal in our country so we have assurance to our crypto assets.
But I am sure that there will be other country that will follow the approach of India in terms of crypto currency as I saw a bright future of crypto.