Will India Legalize Crypto? Indian Government Has 4 Weeks to Decide
Jeremy Wall's original article for www.investinblockchain.com reduced by 41%
The Indian government has long been indecisive about regulation with respect to the cryptocurrency industry. Crypto ATMs have previously been banned in the country, rumors of the central bank issuing their own cryptocurrency have been botched, and crypto businesses have been forced to shut down. Now, as of February 25, the Supreme Court of India has reportedly given the Indian government 4 weeks to come up with cryptocurrency regulations, according to Crypto Kanoon, a platform for blockchain regulatory news and analysis who shared this news via Twitter.
Supreme Court has granted 4 weeks to Indian Government as the final opportunity to bring about a policy on Crypto currencies! In addition to the 4-week deadline to establish clear cryptocurrency regulations, the Supreme Court of India will also hear petitions against the crypto banking ban by the Reserve Bank of India this week. One of the petitions which will soon be reviewed comes from the Internet and Mobile Association of India which is members with a number of local crypto exchanges. According to reports by Coin Crunch India, the government of India has been working on the regulation of cryptocurrencies for some time now.
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Summarised crypto news.