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2020-03-04 | India lifts ban on cryptocurrency trading – TechCrunch
'India’s Supreme Court on Wednesday overturned central bank’s two-year-old ban on cryptocurrency trading in the country in what many said was a “historic” verdict. '
'In the ruling today, the bench, headed by Justice Rohinton F Nariman, overruled central bank’s circular on the grounds of disproportionality. '
'The 2018 notice from the central bank sent a panic to several local startups and companies offering services to trade in cryptocurrency. '
'A group of petitioners including trade body the Internet and Mobile Association of India had challenged central bank’s circular, in part, arguing that India should look at most other nations that are not only allowing cryptocurrency trading, but have moved to launch their own virtual currencies. '
'The Reserve Bank of India had imposed a ban on cryptocurrency trading in April 2018 that barred banks and other financial institutions from facilitating “any service in relation to virtual currencies.”At the time, RBI said the move was necessary to curb “ring-fencing” of the country’s financial system. '
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[–] nouseforaname ago
India hasn't figured out how to wipe its ass
[–] ilovejuices3 ago
This is good for bitcoin
[–] Nosferatjew ago
Well, this could get interesting.
[–] derram ago
https://archive.ph/wip/IHW4Y :
'India’s Supreme Court on Wednesday overturned central bank’s two-year-old ban on cryptocurrency trading in the country in what many said was a “historic” verdict. '
'In the ruling today, the bench, headed by Justice Rohinton F Nariman, overruled central bank’s circular on the grounds of disproportionality. '
'The 2018 notice from the central bank sent a panic to several local startups and companies offering services to trade in cryptocurrency. '
'A group of petitioners including trade body the Internet and Mobile Association of India had challenged central bank’s circular, in part, arguing that India should look at most other nations that are not only allowing cryptocurrency trading, but have moved to launch their own virtual currencies. '
'The Reserve Bank of India had imposed a ban on cryptocurrency trading in April 2018 that barred banks and other financial institutions from facilitating “any service in relation to virtual currencies.”At the time, RBI said the move was necessary to curb “ring-fencing” of the country’s financial system. '
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