Wednesday 4 July 2018
The Supreme Court of India has shut down appeals for a temporary stay on a ruling that would force financial institutions to cease all cryptocurrency related operations, declared in April. The move sees any entity regulated by the Royal Bank of India (RBI) be prohibited from engaging in all services related to cryptocurrencies – such as the buying and selling of virtual currencies. Facilitating transfers of virtual coins is also to be included in the restrictions, as reported by Times of India. The news confirms the fate of cryptocurrency businesses across the country for the foreseeable future: that within just…
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