Over the last few days we are hearing a lot of news about how Indian Government and RBI is trying to end cryptocurrency in India. On 5th April RBI came up with a notice which said that banks should stop giving services to cryptocurrency exchanges.
Finally after a long wait, we have a goof news. Today, Economic times published an article which mentioned that RBI will lift ban on cryptocurrency and will allow trading in cryptocurrency with new regulations.
Its a big news for cryptocurrency users in India. Here is a tweet by ET.
A panel formed by the government to look into crypto-currency does not seem to be in favour of banning it. Instead, it may suggest allowing crypto-currency with riders, ETNow reported. Lack of proper stakeholder consultation and absence of reasonable grounds to restrict any business are the primary provisions under which the RBI notice has been challenged in the SC.