Supreme Court cancels 2018 ban on Cryptocurrency imposed by RBI, allows trading

11:08:00 AM, Wednesday 4th of March 2020 | in business

In a major decision, the Supreme Court on Wednesday allowed dealing in cryptocurrency. The apex court quashed an earlier ban imposed by the Reserve Bank of India (RBI) on trading in virtual currencies such as Bitcoin. In April 2018, the central bank had tightened rules to discourage the use of virtual currencies like Bitcoins. Reports also emerged that India was going to have its own cryptocurrency.