The Supreme Court on Wednesday struck down the curb on cryptocurrency trade in India. “SC rules curb on crypto currency trade illegal,” the report said while adding that the order lifted ban on trading in virtual currency, cryptocurrency and bitcoins. Bitcoin, the most valued cryptocurrency in the world, was down 0.39 per cent at $8,815. The market cap of the currency stood at $161 billion. “It’s a very positive sign that has come through, something that we have been waiting for and expecting for two years now. Most of the infrastructure and bits and pieces towards the cryptocurrency was already built out over the last few years,” said Benson Samuel, Director Of Technology at Tokenyz Ventures. Samuel sees many of the companies that shut their operations due to RBI’s circular coming back in the business. “We should see a lot of them restarting and a lot more activity happening around this space,” he added. ...
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