Crypto exchanges operations coming on track but investors advised caution

With the Supreme Court setting aside the Reserve Bank’s circular banning banks from dealing with cryptocurrency, several exchanges have started opening accounts to bring back trading on exchanges like they were doing before April 2018.

However, investors have been advised caution in trading till the government the clears its stand on the issue. The Centre had in February 2019 introduced a Bill proposing a ban on cryptocurrency.

Bitcoin, the largest and the first cryptocurrency, is commanding premium of 1.5-2 per cent of its cost on one of the exchange’s apps which has started permitting trading against payment. Even buy-sell spread was seen very high despite new investors’ registration was noticed.