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Can india ban Cryptocurrency ?
New Delhi: The Supreme Court has given green signal to the trading of cryptocurrency. The court has removed the ban imposed by RBI. The Supreme Court has canceled the order of the Reserve Bank, which completely banned bitcoin and other crypto currency in banking transactions. SC has accepted that this is a very strict step. In the petition filed in this case, the petitioners had said that the Indian government has not banned the crypto currency. But the RBI issued the order on its behalf.
Let us tell you that in 2018, the RBI issued a circular forbidding banks to trade in crypto currency. After this, the crypto currency exchange and some institutions had challenged in the Supreme Court against this circular of the Reserve Bank.
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Yes, when states hve understood thet crypto is undermining their power they will make it difficult to use or ban them.