Cryptocurrency Bourses Win India Case Against Central Bank Curbs
- RBI had barred banking services from using digital currencies
- Supreme court ruling on Wednesday struck down the RBI’s curbs
This article is for subscribers only.
Cryptocurrency exchanges scored a victory in India after the nation’s Supreme Court endorsed their stand against curbs put in place by the central bank that effectively outlawed virtual currencies in Asia’s third-largest economy.
A three-judge bench headed by Justice Rohinton F. Nariman agreed with petitions by cryptocurrency exchanges, start ups and industry bodies that had challenged the Reserve Bank of India’s April 2018 decision to ban banks from offering any services to support digital currencies. The court struck down the RBI’s curbs on Wednesday.