On March 4th, the Supreme Court of India ruled against the Reserve Bank of India’s decision to ban the country’s banks from dealing with digital currencies. The next day, on March 5th, the South Korean authorities have effectively legalized cryptocurrencies.
Leading Indian Bitcoin and cryptocurrency exchange app Zebpay has announced that it will be stopping its exchange business effective from today, September 28. The move follows the ban imposed by the Reserve Bank of India (RBI) for all regulated financial institutions – including banks – from providing any service in relation to cryptocurrencies.
The Reserve Bank of India (RBI) has formed a new unit within the central bank to beef up its own intellectual capital in the face of emerging technologies like cryptocurrency, blockchain and artificial intelligence.
India virtually banned cryptocurrencies like bitcoin with the Reserve Bank of India barring regulated entities from providing services to any individual or business dealing in digital currencies.
Good news for Ethereum community and especially Indian traders: the bitcoin exchange BTCXIndia confirmed its plans to offer ETH/INR trading pair starting March 9. The official press release to be issued on March 5.