{"id":6931,"date":"2020-03-06T17:27:06","date_gmt":"2020-03-06T11:57:06","guid":{"rendered":"https:\/\/triumphias.com\/blog\/?p=6931"},"modified":"2020-03-06T17:27:06","modified_gmt":"2020-03-06T11:57:06","slug":"virtual-currency","status":"publish","type":"post","link":"https:\/\/triumphias.com\/blog\/virtual-currency\/","title":{"rendered":"Virtual currency"},"content":{"rendered":"<p><span style=\"color: #0000ff;\"><strong>Relevance: Prelims: Economy<\/strong><\/span><\/p>\n<p><a href=\"https:\/\/triumphias.com\/blog\/wp-content\/uploads\/2020\/03\/cryptocurr.png\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-6932\" src=\"https:\/\/triumphias.com\/blog\/wp-content\/uploads\/2020\/03\/cryptocurr-997x1024.png\" alt=\"\" width=\"810\" height=\"832\" srcset=\"https:\/\/triumphias.com\/blog\/wp-content\/uploads\/2020\/03\/cryptocurr-997x1024.png 997w, https:\/\/triumphias.com\/blog\/wp-content\/uploads\/2020\/03\/cryptocurr-146x150.png 146w, https:\/\/triumphias.com\/blog\/wp-content\/uploads\/2020\/03\/cryptocurr-292x300.png 292w, https:\/\/triumphias.com\/blog\/wp-content\/uploads\/2020\/03\/cryptocurr-768x789.png 768w, https:\/\/triumphias.com\/blog\/wp-content\/uploads\/2020\/03\/cryptocurr.png 1104w\" sizes=\"auto, (max-width: 810px) 100vw, 810px\" \/><\/a><\/p>\n<p><span style=\"color: #ff0000;\"><strong>Why in news?<\/strong><\/span><\/p>\n<ul>\n<li>The Supreme Court set aside a ban by the Reserve Bank of India (RBI) on banks and financial institutions from dealing with virtual currency holders and exchanges.<\/li>\n<\/ul>\n<p><span style=\"color: #ff0000;\"><strong>About:<\/strong><\/span><\/p>\n<ul>\n<li>The court held that the ban did not pass the \u201cproportionality\u201d test.<\/li>\n<li>The test of proportionality of any action by the government, the court held, must pass the test of Article 19(1)(g), which states that all citizens of the country will have the right to practise any profession, or carry on any occupation or trade and business.<\/li>\n<li>In a circular in 2018, the RBI had banned banks from dealing with virtual currency exchanges and individual holders on the grounds that these currencies had no underlying fiat and that it was necessary in the larger public interest to stop banks from providing any services related to these.<\/li>\n<\/ul>\n<p><a href=\"https:\/\/triumphias.com\/blog\/wp-content\/uploads\/2020\/03\/cryptocurrency.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-large wp-image-6933\" src=\"https:\/\/triumphias.com\/blog\/wp-content\/uploads\/2020\/03\/cryptocurrency-1024x855.jpg\" alt=\"\" width=\"810\" height=\"676\" srcset=\"https:\/\/triumphias.com\/blog\/wp-content\/uploads\/2020\/03\/cryptocurrency-1024x855.jpg 1024w, https:\/\/triumphias.com\/blog\/wp-content\/uploads\/2020\/03\/cryptocurrency-150x125.jpg 150w, https:\/\/triumphias.com\/blog\/wp-content\/uploads\/2020\/03\/cryptocurrency-300x251.jpg 300w, https:\/\/triumphias.com\/blog\/wp-content\/uploads\/2020\/03\/cryptocurrency-768x641.jpg 768w, https:\/\/triumphias.com\/blog\/wp-content\/uploads\/2020\/03\/cryptocurrency.jpg 1220w\" sizes=\"auto, (max-width: 810px) 100vw, 810px\" \/><\/a><\/p>\n<p><span style=\"color: #0000ff;\"><strong>For more such notes, Articles, News &amp; Views Join our Telegram Channel.<\/strong><\/span><\/p>\n<p><a title=\"Telegram Link\" href=\"https:\/\/t.me\/triumphias\" target=\"_blank\"><span style=\"color: #ff0000;\"><strong>https:\/\/t.me\/triumphias<\/strong><\/span><\/a><\/p>\n<p><strong style=\"font-size: 1.125rem;\"><span style=\"color: #0000ff;\">Click the link below to see the details about the UPSC \u2013Civils courses offered by Triumph IAS.<\/span> <\/strong><span style=\"color: #ff0000;\"><strong><a style=\"color: #ff0000;\" title=\"Courses available\" href=\"https:\/\/triumphias.com\/pages-all-courses.php\">https:\/\/triumphias.com\/pages-all-courses.php<\/a><\/strong><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Relevance: Prelims: Economy Why in news? The Supreme Court set aside a ban by the Reserve Bank of India (RBI)<\/p>\n","protected":false},"author":1,"featured_media":6714,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[123],"tags":[392],"class_list":["post-6931","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-current-affairs","tag-union-public-service-commission-upsc"],"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/posts\/6931","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/comments?post=6931"}],"version-history":[{"count":1,"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/posts\/6931\/revisions"}],"predecessor-version":[{"id":6934,"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/posts\/6931\/revisions\/6934"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/media\/6714"}],"wp:attachment":[{"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/media?parent=6931"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/categories?post=6931"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/triumphias.com\/blog\/wp-json\/wp\/v2\/tags?post=6931"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}