Supreme Court order raises hope for cryptocurrency geeks

NEW DELHI: The Supreme Court (SC) endorsing their stand against curbs put in place by the Reserve Bank of India (RBI), that effectively outlawed virtual currencies in India, on Wednesday only confirms that cryptocurrencies can no longer be dismissed as just a fad.

With a market capitalisation of nearly $300 billion, cryptocurrency, in fact, is touted as the future of digital finance.

According to experts, the ruling is an opportunity for businesses in India to push against stricter rules that may be coming their way from the unconvinced government, even as optimists see the move potentially raising hope for the likes of Facebook Inc’s Libra cryptocurrency.