The Dangerous Truth About India’s Cryptocurrency Verdict
An only-partial court victory and the possibility of legislation banning crypto mean the industry’s legal status in India remains vulnerable.
The funding round comes just weeks after the Supreme Court overturned the country's banking ban.
Tim Draper plans to back local startups now the Indian supreme court has overturned a ban on financial services for crypto companies.
A nationwide coronavirus lockdown, a local banking crisis and a favorable court ruling have created a trifecta for crypto trading volumes in India.
Binance and WazirX plan to donate up to $50 million to Indian blockchain startups after the Supreme Court lifted a central bank ban on financial services for these firms.
The announcement comes a week after the country's supreme court overturned a two-year banking ban for cryptocurrency firms.