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India's top court strikes down RBI banking ban on cryptocurrency

India's top court strikes down RBI banking ban on cryptocurrency

Wednesday, March 4, 2020, 2:51 PM

India's Supreme Court on Wednesday allowed banks to handle cryptocurrency transactions from exchanges and traders, overturning a ban on such dealings by the central bank that had come as a major blow to the thriving industry. The RBI had ordered financial institutions to break off all ties with individuals or businesses dealing in virtual currency such as Bitcoin within three months, in April 2018.
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