India reconsiders crypto ban. The government of India reportedly is reconsidering the ban on cryptocurrency. This comes following the Supreme Court’s rejection on the country’s central bank circular. The circular banned financial institutions from working with crypto businesses.
Economic Times shared that India is looking into introducing a law banning cryptocurrencies. It added that the country’s government sees that a legal framework would be more effective than their bank’s circular.
Additionally, a senior government official shared that “A note has been moved (by the finance ministry) for inter-ministerial consultation”. The Union Council of Ministers will first receive the note and then pass it on to the parliament for final review.