Although the State Bank of Pakistan has banned commercial banks, financial firms and traders from operating in cryptocurrencies, some are finding ways and means of circumventing this ban.
At least 11 cryptocurrency exchanges in India had requested an injunction against the Reserve Bank of India, but that has now been denied by the country’s Supreme Court.
Flintstone Technologies Pvt. Ltd. has petitioned the courts to reverse the Reserve Bank of India’s bank on banks working with cryptocurrency exchanges. The Delhi High Court will hear the case on May 24.
Facebook and Twitter recently banned ICO ads from their social media platforms, mainly due to fears over backlash if something were to go wrong (such as a $13-million pyramid scam). LinkedIn co-founder Eric Ly, however, believes the ban will be lifted once regulatory issues are better defined.
