CRYPTOCURRENCY BAN LIFTED IN INDIA
Cryptocurrencies have gained popularity across the world. Facebook revives Libra plans; Value of global crypto market to reach US$1.6 trillion While the Facebook is re-thinking its plan to launch digital currency Libra, India’s highest court has lifted a ban on cryptocurrency today. India’s Supreme Court on Wednesday allowed trading in virtual currency, cryptocurrency and the likes of Bitcoin. However, the court’s decision might be over-shadowed by the upcoming bill proposed by India’s federal government. The draft bill seeks to prohibit mining, holding, selling, trade, issuance, disposal or use of cryptocurrency in India, and the violation could result in hefty fines and imprisonment of 10 years. For now, the supporters of cryptocurrency may rejoice as the draft bill might come in a distant future and may be toned down a tad bit after Supreme Court’s decision. The court ruled in favor of the Internet and Mobile Association of India, which was representing the inter...