India: RBI could lift the cryptocurrency trading ban

In early April, the Reserve Bank of India published statement titled 'Prohibition on dealing in virtual currencies,' which forced commercial banks, e-wallet providers, and payment services to withdraw their support for cryptocurrency transactions. 

Following this development, cryptocurrency exchanges applied to the Supreme Court to overrule this decision and a hearing was scheduled for July 20. 

According to India Times, a panel formed by the government does not agree that a ban is the right solution. "The government panel is not in favor of banning cryptocurrency and may suggest cryptocurrency with riders," the news outlet reported.

BEST BROKERS TO TRADE CRYPTO

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these securities. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Forex involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility.