The restrictions imposed by the Reserve Bank of India on operations with digital assets can be lifted in the near future.
As the newspaper notes, a special government commission opposed the ban on crypto currency in the country. In general, the Indian authorities can resolve the circulation of the Cryptocurrency, but “with some reservations.”
Related to the cryptocurrencies, companies affected by the decision of the Indian central bank, intend to challenge it in the Supreme Court on July 20.
“They issued this ban, which has colossal consequences, without any investigation, and it looks like a very superficial solution. There are other countries where there are also doubts about such currencies, but none of them introduces prohibitions, “said Nishal Shetty, head of the Indian WizirX exchange.
Thus, the government group and a number of cryptocurrency companies do not support the decision of the Reserve Bank of India, because they are convinced that it was accepted without any research of the industry. In turn, the representatives of the Central Bank still could not clearly explain why they blocked bank accounts of crypto-exchange exchanges.