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RBI Lift Crypto Ban As Per Supreme Court Order

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RBI Lift Crypto Ban: Good news for everyone. RBI reserve bank of India lifted the crypto ban as per the supreme court order.

India is a huge potential country for most industries. Since 2018 all India was facing a crypto ban imposing by RBI and government.

The RBI and the government had jointly closed cryptocurrency transactions in India but they could not stop the cryptocurrency trading in any way.

The main reason for this was to use peer to peer technology for the transaction. And using this p2p technology, Indians were doing cryptocurrency trading.

RBI Banned Some Exchange

Along with the cryptocurrency, the Indian government also blocked some exchanges.

These exchanges were:

  • Zabpay
  • WazirX
  • KoinEX
  • Coindelta

There was a hearing in this cryptocurrency bill in India for a long time. Indian Finance Minister Nirmala Sitharaman had called for the bill in 2019 and to consider it.

But he did not give any final decision on it, it seemed that the Indian government kept silent on cryptocurrency.

But no bill can be pressed for so long and finally, we have got to see its result.

RBI Lift Crypto Ban

During the hearing of the ongoing case in the Supreme Court, the decision regarding cryptocurrency has come.

According to the Supreme Court order, the Reserve Bank of India has lifted its ban on cryptocurrency.

We can legally transact cryptocurrencies in India from April 2020.

Also Read:

Top 5 Cryptocurrency Exchange In Canada.

SCOPE:

There is an ideology in India that fully supports Digital India. In such a situation you cannot ignore this type of digitization.

But when we talk about decentralization, there is no rule of any government there. For this reason, the Indian government could not do anything by banning cryptocurrencies.

And now he has to lift the ban from cryptocurrency as per Supreme Court order. We are celebrating RBI Lift Crypto Ban.

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