March 4, 2020 India’s highest court reverses banking services ban on cryptoasset exchanges.

India’s Supreme Court has overruled a ban imposed on cryptoasset exchanges in the country by the Reserve Bank of India, citing the previous ruling’s unconstitutionality as its motivation. In April 2018, the nation’s central bank had banned financial institutions within the country from offering banking services to cryptoasset exchanges. This decision was in part the result of a petition from a group of domestic cryptoasset exchanges and it is expected that business activity, especially that of exchanges should now grow. Attitudes towards the still-nascent asset class have been relatively hostile in recent years, making this reversal particularly significant.