In India, for instance, the RBI issued a circular in 2018 directing all regulated entities not to deal with or provide services to businesses and individuals trading in virtual currencies, inter alia, to protect the financial system. However, the circular was challenged before the Supreme Court of India, which struck down the ban in terms of the circular as being excessive and disproportionate.
The article was authored by Varun Sriram, Partner, and was published in Outlook.
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Varun has 18 years of practice experience and primarily focuses on M&As, transaction advisory, fund / AIF structures/formation and documentation, commercial legal opinions, and private client practice.