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How Indian Supreme Court Ruling Gave Cryptocurrency Trading A Boost

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The mainstream adoption of the cryptocurrency has had its fair share of criticism and in the last two years, Asia’s 2nd most populous nation, India, has been at the centre of the saga. Crypto-related services in India received a ban in 2018 and this lingered for about two years until the nation’s supreme court stepped in and upturned the ban. Has the apex court’s ruling given crypto trading a boost? Come along! A Closer LookIn April of 2018, the Reserve Bank of India issued a ban on banks and financial intermediaries which prevented them from offering any sort of cryptocurrency-related services. The central bank argued that the situation surrounding virtual currencies (VCs) and crypto assets raised red flags with respect to overall market integrity, consumer protection, money laundering and other illegal occurrences.The ban crippled crypto-related activities across India with several businesses and exchanges shifting their base to countries with favourable business regulations while a…