Indian Supreme Court Deems RBI Banking Ban Unconstitutional | Cryptoknowmics

The Supreme Court of India has finally given out its judgement in the prolonged 'Crypto Case' filed against the Reserve Bank of India's banking ban of 2018. The year-long court proceedings finally came to an end on 4th March and Supreme Court in its judgement has deemed the RBI's Banking ban as unconstitutional.

The banking ban was challenged in the Supreme Court by the Internet and Mobile Association of India (IMAI), citing Central Bank's move as unconstitutional and not falling under RBI's jurisdictions

Today's Supreme Court judgement would not only come as a big relief for the Indian crypto community but also remove all the misconception and rising fear among entrepreneurs looking to venture into the digital currency space. The RBI banking ban was wrongly interpreted as a blanket ban and a majority of the Indian community believed that trading crypto was illegal as well.