Cryptocurrency, 2020 (Internet and Mobile Association vs. RBI)
A circular of the Reserve Bank of India (RBI) banning banks and financial institutions from providing services to any individual or business entities in dealing with or settling cryptocurrency including Bitcoin was quashed by Supreme Court.
It held that the ban by RBI was violative of freedom to carry on trade guaranteed by Article 19(1)(g) of the Constitution as central bank could not finding anything wrong about the manner in which virtual currency (VC) exchanges were functioning.
