Futures Friday: India — new crypto mecca?

The crypto community believes that cryptocurrency trading will flourish in India as the Supreme Court lifts the crypto ban.

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The case against the central bank’s proposal was brought to the Supreme Court by the Internet & Mobile Association of India (IAMAI). BTCMEX earlier reported the court’s hearings on the case against the country’s central bank’s ban of cryptocurrency.

The news appeared in the local media on March 4, 2020, saying the court’s bench of Justices delivered the verdict that might open multiple possibilities for cryptocurrency-related businesses in India.

What can be seen in the nearest future is the Indian government to create a new committee to better understand and analyze the industry before making any further decisions. Meanwhile, the developing a digital rupee is still on hold and the future of crypto has yet not been determined on a governmental level, but the community is glad to see that the first positive steps were already made.

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Please note, that the article is a part of BTCMEX Blog, the views and opinions expressed here are the contributing author’s only, and do not necessarily represent the views of the company.

Julia Bulakh for BTCMEX