Jamie McKane
MyBroadband Journalist
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Cryptocurrency is effectively outlawed in India
India’s top court refused to overturn a central bank ban on lenders from dealing in cryptocurrencies, a move that effectively outlaws the nascent industry in Asia’s third-largest economy.
A bench headed, by Chief Justice Dipak Misra, said the Reserve Bank of India’s directive prohibiting banks, financial institutions and other regulated institutions from providing any services related to virtual currencies will remain implemented.
[Bloomberg]
India’s top court refused to overturn a central bank ban on lenders from dealing in cryptocurrencies, a move that effectively outlaws the nascent industry in Asia’s third-largest economy.
A bench headed, by Chief Justice Dipak Misra, said the Reserve Bank of India’s directive prohibiting banks, financial institutions and other regulated institutions from providing any services related to virtual currencies will remain implemented.
[Bloomberg]
