bitcoin ban removed in india

Supreme Court of India Removes RBI Order, SC allows the trade of cryptocurrency

On the 4th of March 2020, the Supreme Court of India removes the Ban from Bitcoin and Cryptocurrency. The indirect ban was imposed by RBI (Reserve Bank of India) on the crypto community, April 2018. Here we call indirect Ban because RBI told Banks to discontinue the relationship with the customers who trade the Bitcoin or any other cryptocurrencies.

The Indian Crypto community went to the Supreme Court and after almost 2 years they got success. Indian Crypto community tried all their best to get Ban removed from Bitcoin.

The Director of Technology at Tekenyz Ventures, Benson Samuel, said, “It’s a very positive sign that has come through, something that we have been waiting for and expecting for two years now. Most of the infrastructure and bits and pieces towards the cryptocurrency was already built out over the last few years,”

Now onwards every Indian can buy, sell and trade Bitcoin without any restrictions.

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