India’s top court (Hon’ble Supreme Court invalidated an order issued by India’s central bank (The Reserve Bank of India) which had directed the banks to refrain in transactions involving cryptocurrency. The case involved the Internet and mobile association of India as the petitioner and the Reserve Bank of India as the respondent. The petitioners also involved “a few companies which run online crypto assets exchange platforms, the shareholders/founders of these companies and a few individual crypto assets traders” as stated in the 180-page judgment rendered on 04March, 2020.

Block chain technology and the crypto currency or the magic money is considered as a modern day industrial revolution post the loom, the assembly line, and the internet. Off late, the forces driving the economy are a compromise on commitment and serious opponents to decentralization.