India’s Supreme Court Overturning The Ban By The Country’s Central Bank on Digital Currencies

LaIndiaIndia ́s liquidity situation remains good, with international reserves at almost eleven months of import cover in 2022, amply covering both the external financing requirement and short-term foreign debt. India has an excellent payment record, with no missed payments since 1970, providing it with good access to capital markets.

Adam Vettese (eToro) | Cryptoassets continue to remain stable amid the surge in volatility in equity markets, with the all three trading in a narrow trading range over the last 24 hours. Bitcoin is through the $9,000 mark, up 4% this morning at $9,118, while Ethereum and XRP have also made similar gains up 4.5% and 2.9% respectively.

A very significant breakthrough for the blockchain industry came yesterday in the form of India’s supreme court overturning the ban by the country’s Central Bank on digital currencies. Crypto companies (including exchanges) can now get banking services in India. This follows a previous statement by the Reserve Bank of India giving Indian banks three months to cease dealing with any entity involved with digital currency. For such a populous country to seemingly close its doors to crypto as a whole seemed almost inconceivable, but now firms can benefit from the innovation that blockchain provides.

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