The restrictions imposed by the Reserve Bank of India on operations with digital assets can be lifted in the nearest future. This is reported by The Economic Times.
A special government commission opposed the ban on cryptocurrency in the country. In general, the Indian authorities can allow the circulation of the cryptocurrency, but "with some reservation".
As reported, on April 6, RBI through its notice titled ‘Prohibition on dealing in virtual currencies’, mandated banks, e-wallets and payment gateway providers to withdraw support for crypto-currency exchanges and other businesses dealing with virtual currencies (VCs) in India
Companies affected by the decision of the Indian central bank, intend to challenge it in the Supreme Court on July 20.
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 exchanges.