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Essay on Cryptocurrency

Essay on Cryptocurrency The RBI issued a circular dated April 6, 2018 banning the use of cryptocurrencies in trade and also ordered banks and other financial institutions not to conduct any transactions in virtual currencies. Unhappy with this decision, the Internet and Mobile Association of India challenged it in the Supreme Court. Hearing this petition against the RBI order, the Supreme Court on March 4, 2020 lifted the ban on the use of cryptocurrencies in trade and investment. It was only after this decision given by the Supreme Court that cryptocurrency and its related issues started spreading its footing in India as well. Currently there are more than 13000 cryptocurrencies in circulation in the world.

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