• Latest
India’s Supreme Court Lifts Banking Ban on Crypto Exchanges

India’s Supreme Court Lifts Banking Ban on Crypto Exchanges

March 4, 2020
ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
mintable launches industry changing gas free minting service on ethereum

Mintable Launches Industry Changing Gas Free Minting Service on Ethereum

May 1, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
justin sun launches usdd, integrating the blockchain world and the real world with the decentralized stablecoin

Justin Sun Launches USDD, Integrating the Blockchain World and the Real World with the Decentralized Stablecoin

April 25, 2022
nfts: the next musical revolution

NFTs: The Next Musical Revolution

April 24, 2022
things you should know before investing in nfts

Things You Should Know Before Investing in NFTs

April 24, 2022
what are wrapped tokens?

What Are Wrapped Tokens?

April 23, 2022
what is the future of ethereum (eth)?

What is the future of Ethereum (ETH)?

April 22, 2022
green gaming

Everything You Need to Know About Play-to-Earn on Algorand in 2022

April 21, 2022
$ape going bananas as rumors of upcoming land sale of bayc metaverse gather momentum

$APE Going Bananas As Rumors of Upcoming Land Sale of BAYC Metaverse Gather Momentum

April 21, 2022
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
CoinNewsDaily
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining
No Result
View All Result
CoinNewsDaily
No Result
View All Result
Home Tech

India’s Supreme Court Lifts Banking Ban on Crypto Exchanges

coinnewsdaily by coinnewsdaily
March 4, 2020
in Tech
0
India’s Supreme Court Lifts Banking Ban on Crypto Exchanges
190
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Related articles

ygg sea surpasses 10,000 scholarships in just six months of launch

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
5 projects enabling smart contract development on bitcoin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022

The Supreme Court of India has ruled against a decision imposed by the country’s central bank nearly two years ago that curbed crypto trading in Asia’s third-largest economy.

According to a report from Bloomberg, a three-judge bench of the court ruled on Wednesday in favor of petitions by crypto exchanges and startups that opposed the decision made by the Reserve Bank of India in April 2018, which banned domestic financial institutions from providing banking services to crypto exchanges.

The central bank’s decision at the time forced crypto exchanges in the country to either relocate to other jurisdictions or shift the business model from fiat-to-crypto to crypto-to-crypto and over-the-counter trading.

While crypto exchanges immediately filed petitions to the Supreme Court after the central bank’s decision in 2018, a clear decision had not been reached until Wednesday after several rounds of hearings. Some exchange also chose to close down their businesses while the case was ongoing.

“The uplifting of the ban by Supreme Court is going to open new opportunities for India in terms of investments, economy, and a market as a whole,” said Sumit Gupta, founder and CEO of exchange aggregator CoinDCX. “As few of the surviving petitioners of the case, we are thankful to the Supreme Court for hearing our side of the story. We have always seen crypto as a potential to unlock India’s dream of becoming a $5 trillion economy.”

Tanvi Ratna, CEO and founder of Policy 4.0, which works on crypto policymaking in India, wrote in a pre-verdict analysis on Tuesday that the win would mean for “a resurgence of liquidity and resumption of activity with exchanges and other startups” for the ecosystem

“It would indeed, be a big victory, for an ecosystem of innovators long striving for survival,” she said.

But she also cautioned that the verdict could still be a “short-term respite” since the verdict against the RBI “does not directly impact actions on the policy level.”

“What is logical to conclude is that if the verdict goes against the actions of the central bank, there might be re-thinking on the issue within our financial policymakers. There is no guarantee this will happen though, especially if the verdict only address the question of regulatory overreach of the RBI, and leaves sufficient leeway for policymakers to decide upon the treatment of cryptocurrencies,” she wrote.

Omkar Godbole contributed to reporting.

Disclosure Read More

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

Credit: Source link

Tags: Crypto Tech
Share76Tweet48
Previous Post

Bitcoin’s Computing Power Is Growing Again After Coronavirus-Related Disruption

Next Post

CoinDesk’s Policy on Coronavirus and Blockchain Week NYC

coinnewsdaily

coinnewsdaily

CoinNewsDaily.com is an online Crypto Coin News Website that aims to provide latest trendy news from market and around the world.

Related Posts

ygg sea surpasses 10,000 scholarships in just six months of launch
Alt Coin

YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch

May 6, 2022
5 projects enabling smart contract development on bitcoin
Alt Coin

5 Projects Enabling Smart Contract Development on Bitcoin

April 29, 2022
bitcoin atm installed in mexico's senate building
Bitcoin

Bitcoin ATM installed in Mexico’s Senate Building

April 27, 2022
cross chain services play a crucial role in facilitating continued adoption of defi applications
Alt Coin

Cross-Chain Services Play a Crucial Role in Facilitating Continued Adoption of DeFi Applications

April 26, 2022
green gaming
Business

Everything You Need to Know About Play-to-Earn on Algorand in 2022

April 21, 2022
axie infinity: what are the minimum android phone requirements to play on mobile
Alt Coin

Axie Infinity: What Are the Minimum Android Phone Requirements to Play on Mobile

April 21, 2022
Load More
Next Post
CoinDesk’s Policy on Coronavirus and Blockchain Week NYC

CoinDesk’s Policy on Coronavirus and Blockchain Week NYC

Categories

  • Alt Coin
  • Bitcoin
  • Business
  • Ethereum
  • ICO
  • Litecoin
  • Mining
  • NFT
  • Ripple
  • Tech
  • Trading

What New here?

  • YGG SEA Surpasses 10,000 Scholarships in Just Six Months of Launch
  • Mintable Launches Industry Changing Gas Free Minting Service on Ethereum
  • 5 Projects Enabling Smart Contract Development on Bitcoin

Subscribe to Get More!

Loading
  • About Us
  • Contact Us
  • Privacy & Policy

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

No Result
View All Result
  • Home
  • Coin Market Cap
  • Bitcoin
  • Ethereum
  • Ripple
  • Litecoin
  • Alt Coin
  • Business
  • Trading
  • Mining

© 2018-2021 CoinNewsDaily.com by CoinNewsDaily Inc. Crafted with Love by iFtiDev

  • bitcoinBitcoin(BTC)$22,996.000.13%
  • ethereumEthereum(ETH)$1,590.440.63%
  • tetherTether(USDT)$1.000.09%
  • binancecoinBNB(BNB)$307.660.85%
  • rippleXRP(XRP)$0.4119280.93%
  • cardanoCardano(ADA)$0.3864242.15%
  • dogecoinDogecoin(DOGE)$0.0896134.60%
  • matic-networkPolygon(MATIC)$1.145.09%
  • okbOKB(OKB)$38.828.84%
  • solanaSolana(SOL)$24.372.26%
  • polkadotPolkadot(DOT)$6.491.06%
  • shiba-inuShiba Inu(SHIB)$0.0000123.73%
  • litecoinLitecoin(LTC)$88.460.90%
  • tronTRON(TRX)$0.062916-1.03%
  • daiDai(DAI)$1.000.08%
  • cosmosCosmos Hub(ATOM)$13.363.09%
  • chainlinkChainlink(LINK)$7.351.38%
  • leo-tokenLEO Token(LEO)$3.60-5.92%
  • moneroMonero(XMR)$182.656.56%
  • ethereum-classicEthereum Classic(ETC)$21.901.18%
  • bitcoin-cashBitcoin Cash(BCH)$133.51-0.96%
  • stellarStellar(XLM)$0.0935312.07%
  • crypto-com-chainCronos(CRO)$0.0816511.13%
  • filecoinFilecoin(FIL)$5.360.24%
  • algorandAlgorand(ALGO)$0.2586504.77%
  • vechainVeChain(VET)$0.0244221.79%
  • internet-computerInternet Computer(ICP)$5.901.89%
  • aaveAave(AAVE)$87.771.08%
  • eosEOS(EOS)$1.10-0.36%
  • elrond-erd-2MultiversX(EGLD)$45.003.85%
  • theta-tokenTheta Network(THETA)$1.10-2.44%
  • tezosTezos(XTZ)$1.121.54%
  • paxos-standardPax Dollar(USDP)$1.000.21%
  • bitcoin-cash-svBitcoin SV(BSV)$43.840.14%
  • huobi-tokenHuobi(HT)$5.101.31%
  • havvenSynthetix Network(SNX)$2.461.24%
  • pancakeswap-tokenPancakeSwap(CAKE)$4.011.37%
  • iotaIOTA(MIOTA)$0.2384971.62%
  • makerMaker(MKR)$669.742.51%
  • zcashZcash(ZEC)$45.87-0.77%
  • neoNEO(NEO)$8.30-0.61%
  • dashDash(DASH)$51.430.04%
  • zilliqaZilliqa(ZIL)$0.0296343.51%
  • basic-attention-tokenBasic Attention(BAT)$0.2669582.62%
  • compound-governance-tokenCompound(COMP)$54.932.68%
  • nemNEM(XEM)$0.039284-0.60%
  • Elrond ERDElrond ERD(ERD)$0.0259290.00%
  • kusamaKusama(KSM)$37.226.17%
  • bitcoin-goldBitcoin Gold(BTG)$17.250.53%
  • wavesWaves(WAVES)$2.8411.01%
  • qtumQtum(QTUM)$2.670.22%
  • sushiSushi(SUSHI)$1.331.62%
  • ftx-tokenFTX(FTT)$1.89-21.50%
  • golemGolem(GLM)$0.2504000.24%
  • yearn-financeyearn.finance(YFI)$7,643.511.97%
  • omisegoOMG Network(OMG)$1.523.01%
  • ontologyOntology(ONT)$0.217823-0.29%
  • digibyteDigiByte(DGB)$0.0109070.47%
  • umaUMA(UMA)$2.050.42%
  • ethlendAave [OLD](LEND)$0.53-3.08%
  • UniswapUniswap(UNI)$2.4438.80%