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Cryptocurrency is legal, but it isn’t a smooth road

1 min read
After the Supreme Court’s landmark verdict lifting the ban on cryptocurrencies in India, interest has spiked overnight, according to exchanges. Players like Zebpay, Unocoin, Wazirx and CoinDCX went live on Thursday, a day after the SC verdict. While some banks like Karnataka Bank, IDBI and Karur Vysya Bank have started supporting their payments, others are…
Cryptocurrency is legal, but it isn’t a smooth road
Hey Donald Trump

After the Supreme Court’s landmark verdict lifting the ban on cryptocurrencies in India, interest has spiked overnight, according to exchanges. Players like Zebpay, Unocoin, Wazirx and CoinDCX went live on Thursday, a day after the SC verdict. While some banks like Karnataka Bank, IDBI and Karur Vysya Bank have started supporting their payments, others are waiting for an official circular from the RBI to go ahead.

However, reviving a legitimate cryptocurrency market in India could take time and effort, say the founders, as there are both regulatory challenges and the global bitcoin slump to deal with.

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