March 6, 2020 The Reserve Bank of India to appeal the Supreme Court’s decision to reverse prior banking-access ban.

Following the ruling earlier this week from India’s Supreme Court that reversed a ban on cryptoasset exchanges accessing banking services, the central bank has decided to lodge an appeal. The Reserve Bank of India has announced that it intends to appeal the decision from the nation’s highest court, which has nullified a ban that the bank had imposed on cryptoasset exchanges, barring them from accessing India’s domestic banks. The bank has cited the potential risks that the industry may pose to the country’s financial system as its motivation for the appeal.