India's Supreme Court overturns RBI crypto banking ban

On March 4, 2020, the Supreme Court of India struck down the Reserve Bank of India's April 2018 circular that had barred regulated banks from servicing cryptocurrency businesses, calling the blanket ban disproportionate. The decision reopened banking rails for exchanges in one of the world's largest markets, though it left the door open for Parliament to legislate restrictions later, which it duly threatened to do.