close
Breaking news

A new line of argument has already come to dominate the public sphere: it’...read more The government has gone one step further to detect community spread of the coro...read more The government has issued an order to abolish the six allowances, including the...read more Aarogya Setu application launched by NIC is aimed to track COVID-19 affected pe...read more SEOUL| South Korea’s unemployment rate was unchanged in April as the coronavi...read more Amid the outbreak of Corona pandemic in the country, Indian government has been...read more Prime Minister Narendra Modi in his address to the nation on Tuesday indicated ...read more Corona infection in the country is taking a macabre form. So far, more than 74 ...read more Congress General Secretary Priyanka Gandhi Vadra has written a letter to UP Chi...read more On Tuesday, Prime Minister Narendra Modi announced a package of Rs 20 lakh cror...read more

SC quashes RBI order banning crypto currency

New Delhi: The Supreme Court quashed the Reserve Bank’s order banning crypto currency in banking transactions completely. In April 2018, the RBI ordered banks not to conduct any transactions through bitcoin and other crypto currencies. The Supreme Court has accepted that this is a very strict step.

The Internet and Mobile Association of India, the organization of cryptocurrencies trading in India, challenged this and said that the Indian government has not banned crypto currency. In such a situation, the Reserve Bank did not have the authority to make such an order on its behalf.

The Reserve Bank had argued that such a step was necessary to protect the banking system from any possible damage.

Story Page