India lifts ban on cryptocurrency trading

Supreme Court overturned central bank’s two-year-old ban on cryptocurrency trading in the country in what many said was a “historic” verdict.

The 2018 notice from the central bank sent a panic to several local startups and companies offering services to trade in cryptocurrency. Nearly all of them have since shut shop.

A group of petitioners including 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.