Supreme Court of India lifts ban on trading in Cryptocurrency

Supreme Court of India lifts ban on trading in
Cryptocurrency. 

RBI on 6 April 2018 issued
circular that barred the RBI regulated entities to provide any services in
relation to virtual currencies or any transaction related buy or sell of
virtual currencies.

Supreme Court of India on 4 March 2020 revoked the ban of cryptocurrency imposed by the Reserve Bank of India (RBI) in
2018. This will
result in trading in virtual currency or crypto currency in India. The concept of bitcoins being quite new to the Indian market,
apparently the government has not yet brought taxability of bitcoins into the
statute books. At the same time, the levy of tax on bitcoins in India cannot be
ruled out in near future.