India has always been an interesting region for cryptocurrencies. Despite a ban by the local central bank, trading of Bitcoin and altcoins will resume shortly.
A while ago, the central bank of India took a strange decision.
Out of the blue, it decided that no bank in the country can provide services to cryptocurrency trading platforms.
For Indian exchanges, this has been a big problem over the past two years.
In theory, banks are allowed to refuse clients because of their involvement in Bitcoin.
According to the Indian Supreme Court, that will no longer be the case.
It overturned the ban on crypto trading altogether, which is a more than welcome development.
The decision by the RBI is deemed “disproportional” and unjust.
As such, all banks are now able to legally provide services to crypto trading outfits, including exchanges, P2P platforms, and OTC trading desks.
Whether any of them will effectively do so, is a different matter altogether.
Other nations have allowed the cryptocurrency industry to thrive.
It would be a shame of a forward-thinking nation such as India decided to take a completely different approach to innovative finance.
In theory, this decision can have a big impact on the cryptocurrency industry.
Cloud mining continues to gain massive traction as 2026 inches closer. In tough economic…
Solana Breakpoint wasn’t just another conference this year. It doubled as a stage for Jupiter…
Ripple has scored a major regulatory milestone in Europe. AMINA Bank AG, a Swiss-regulated digital…
a16z just dropped its annual report, and the message is clear: crypto isn’t slowing down.…
Ethereum has activated BPO-1, a protocol adjustment that increases blob capacity per block from 6…
CryptoBench just landed. Developed by ChainOpera AI and Princeton AI Lab, under the guidance of…