In India, the Supreme Court overruled the country’s central bank circular, which banned banks from serving crypto companies.
The Indian Supreme Court nullified the circular issued by the country’s central bank Reserve Bank of India (RBI) in 2018, banning banks from serving crypto exchanges and their companies.
The court found this circular of the central bank dated April 6, 2018 unconstitutional.
Due to the ban on the central bank, the crypto companies in the country, especially the stock markets, were struggling to survive. Many stock markets had locked their doors, citing this ban.
Now the industry is expected to revive in India. Indian crypto investors and industry entrepreneurs have welcomed this decision of the Supreme Court.