Latest Update on the Banking Restrictions for CryptoExchanges in India via Supreme Court.
— Crypto Kanoon (@cryptokanoon) July 3, 2018
Back in April, we received word that the RBI, India’s central bank, was moving effectively to ban cryptocurrency usage throughout the country. More specifically, the RBI sought a blanket ban by way of asking banks in India not to accept or facilitate purchases of cryptocurrency, as of April 5. As you may have expected, this decision was met with a fairly swift backlash, and it became apparent before long that the RBI was not, in fact, relying on new or original research in establishing this policy.
Still more updates to come. We will be updating this blog post with the latest information timely.