India’s Supreme Court overturns controversial ban on banks servicing crypto firms

Allow cointelegraph.com to send web push notifications to your desktop.
Don't allowAllow

Install the Cointelegraph app from the Play Store
Install the Cointelegraph app from the Play Store

Download

$
BTC $6,661
ETH $135
XRP $0.1611
BCH $223
LTC $39.12
EOS $2.30
XLM $0.040
XMR $48.3
ADA $0.030
DASH $68
NEO $6.76
ZEC $32
BNB $12
USDT $1.00
MIOTA $0.14

MAR 08, 2020
By Thomas Simms
20058
141
10:32
India Ban Overturned, BTC Owners Warned They’ll Lose Everything, Hodler’s Digest, Mar. 2–8
HODLER’S DIGEST
Coming every Sunday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.

Top Stories This Week
India’s Supreme Court overturns controversial ban on banks servicing crypto firms
There’s a lot to chew concerning movements in the crypto markets, but the first story is of a different kind. A controversial ban that prohibited banks from dealing with crypto-related companies in India has been overturned by the country’s Supreme Court. The Reserve Bank of India’s sudden move in April 2018 had proved calamitous for local businesses, with several exchanges closing because of the uncertainty. Three judges decided to strike down the ban on Wednesday — with the RBI speedily announcing plans to challenge the decision, fearful that the ruling could put India’s banking system at risk. It took less than 24 hours for two major exchanges to resume accepting deposits and withdrawals, but India’s crypto industry might not be out of the woods yet. A pending law that would ban cryptocurrencies is yet to be considered by parliament, and this could take businesses back to square one.