India’s Crypto Industry In Uproar As RBI Restrictions Kick In

India’s Supreme Court has refused to stay rules banning regulated financial institutions from dealing in cryptocurrency, but experts are “cautiously optimistic” that a more favourable policy is in the pipeline. 

The decision issued on Tuesday rejected requests for interim relief on the Reserve Bank of India’s (RBI) shock order for banks to cut off services to virtual currency firms and users, meaning that the effective ban kicked in today. 

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