India’s crypto currency:What next after the Supreme Court’s judgment

Published On: Sunday, March 8, 2020 | By: Team KnowMyStock

On March 6 the Supreme Court of India struck down the Reserve Bank of India’s (RBI) ban on financial institutions providing banking services to cryptocurrency businesses. However, the decision is not final, and embedded in the text of the judgment are multiple red flags. In addition, a draft bill to ban cryptocurrencies, released on Feb. 28, 2019, could still move through Parliament. The partial court victory and the possibility of legislation moving forward mean that crypto’s legal status in India remains vulnerable, experts opined. However the court verdict will reduce friction for crypto startups, attract funding, and boost innovation, the lack of clarity on the legality of the technology can open a new front. Getting a regulator that can set things in motion is a challenge to be addressed soon.

Closing Bell: Sensex gains 85 points, Nifty at 18755.90

Closing Bell:Sensex gains 418 points, Nifty at 18716.15

MARKET UPDATE: Sensex rose 135 points to 62761, and the NSE Nifty50 moved 40 points higher to 18,600

Closing Bell: Sensex down 223 points, Nifty at 18,563

MARKET UPDATE: Sensex surged over 100 points to trade around 62,962 levels, whereas Nifty50 climbed over 30 points to trade above 18,650 levels

MARKET UPDATE: Sensex gained over 50 points to trade around 63,228 levels, whereas Nifty50 traded marginally above 18,700 levels

MARKET UPDATE: Sensex surged over 150 points to trade around 62,988 levels, whereas Nifty50 gained over 50 points to trade above 18,650 levels

MARKET UPDATE: Sensex traded flat at 62,777 levels, whereas Nifty50 was flat above 18,600 levels

Closing Bell: Sensex up 240 points, Nifty at 18593.85

MARKET UPDATE: Sensex rallied over 300 points, whereas Nifty50 gained over 50 points to trade above 18,600 levels

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