By Staff Writer
Indian central bank, Reserve Bank of India, has crypto ban has been overturned by the Indian supreme court earlier this week after a two-year legal battle.
Analysts interpret the apex court’s decision as a major victory not only for the digital asset industry but also for the whole fintech industry in general because it would benefit from the more innovation in blockchain technology and digital assets.
There is also race amongst jurisdictions as to how they treat developments in blockchain and cryptocurrencies. They range from blanket in places like China to more measured approach taken by jurisdiction such as Hong Kong and Singapore.
The apex court overturned a 2018 ruling by the Reserve Bank of India, which prohibited Indian banks from dealing with cryptocurrency exchanges on concerns over consumer protection, market integrity and money laundering, amongst others