The Supreme Court of India has lifted restrictions for providing financial and banking services to cryptocurrency sector, imposed by Indian central bank, reported Live Law on March 4.
The 2018 Reserve Bank of India’s ban prohibited financial institutions to provide services to cryptocurrency-related enterprises, like crypto exchanges.
After a number of petitions, the ban was challenged in the Supreme Court by Internet and Mobile Association of India, consisting of several companies, and other stakeholders, during the proceeding this year.
According to Live Law, Supreme Court has found the restrictive measures “disproportionate”. Since virtual currencies are not banned in the country and government has not yet produced sufficient regulations on cryptocurrencies, the Supreme Court has lifted the 2018 ban.
As Future Time previously reported, in January Indian Space Research Organization (ISRO) unveiled a “female” legless half-humanoid robot that is supposed to be sent into unmanned space flight this year.