After SC order, India's cryptocurrency space is whirring back into action

By Shelley Singh, ET Bureau | Updated March 29, 2020, 12.03PM IST

Early in March, the Supreme Court overturned an April 2018 ban on cryptocurrencies imposed by the country’s central bank. Immediately, moribund cryptocurrency exchanges came alive — WazirX, Unocoin, CoinDCX, Zebpay and others, rearing to do business. Even as Coronavirus spread, with sectors such as retail, travel, aviation, realty and others hunkering down to face prolonged economic pain, the small

judgment in favour of the currency could pave the way for the development of the ecosystem. Harish says: “Blockchain projects will come up even as people will be more aware and educated about cryptocurrencies.” Its value has been appreciated by the court. It’s up to the developers and regulators to create mechanisms that help masses gain from the currency.

Text Size:AAA