Last week, India’s Supreme Court officially reversed a nationwide ban against Bitcoin, XRP and other coins. This is a major development for digital assets, and a particular win for XRP. Now that India has lifted their Bitcoin ban – what does it mean for crypto?
India reverses anti-crypto ban
For those who missed it, on Wednesday last week India’s supreme court officially struck down a directive from the country’s Reserve Bank, which prohibited banks from offering services to those who held cryptocurrencies.
That means if you’re looking to trade Bitcoin, XRP, or any other crypto in India, you should check out eToro – the world’s leading social trading platform.
Vaibhav Kakkar, a partner at L&L Partners law firm, spoke to Bloomberg on the matter:
“With this order, there is a likelihood of more mature and balanced regulation of cryptocurrencies and the fintech sector as a whole.”
According to Credible Crypto, a well-known crypto commentator, this decision will be especially good for XRP:
“Regulatory clarity was the final piece of the puzzle that was holding Ripple back from going after the Indian remittance market aggressively. Great for XRP.” Read More...