This has given a major relief to exchanges dealing in these crypto currencies
The apex court on Wednesday set aside an RBI circular of 2018 which had prohibited financial sector entities from providing services to any individual or business dealing in virtual currencies.
It is likely that Bitcoin has been used to facilitate enormous capital flight out of India, especially after demonetisation; rupee volume of Bitcoin trades has risen considerably over 12-18 months
Pronouncing the verdict, the three-judge bench of the apex court said the ban was 'disproportionate'
The debate may appear abstract, with little bearing on the hard-boiled world of finance, but it is attracting increasing interest from economists and lawyers