Cryptocurrency

The Supreme Court has revoked the ban of cryptocurrency imposed by the Reserve Bank of India (RBI) in 2018. Pronouncing the verdict, the three-judge bench of the apex court said the ban was ‘disproportionate and unreasonable’. The bench included Justice Rohinton Fali Nariman, Justice S Ravindra Bhat and Justice V Ramasubramanian.

This has given a major relief to exchanges dealing in these crypto currencies. It opens a window for developing a market for crypto currencies, which are formally traded in derivatives markets in the US, with Chicago Mercantile Exchange (CME) allowing trade in them.