Venture capitalist Tim Draper recently stated that he has “encountered several Bitcoin and crypto startups from India” and he “hopes to provide funding for some of them”. He also recently expressed excitement that the Supreme Court of India overturned the Central Bank of India’s ban on financial institutions from providing encryption-related services. Tim Draper said on Twitter, “India’s revival, encryption is now legal.” Although the Indian crypto community is optimistic about this, regulatory uncertainty still exists. Sharat Chandra said: “The war against the cryptocurrency ban by the Central Bank of India is fragile, and the central bank can very well challenge the ruling of the Supreme Court of India.” The Bank of India has planned to appeal the Supreme Court’s recent ruling on the controversial crypto ban. There are reports that the Central Bank of India is worried that the country’s cryptocurrency revival will threaten the country’s banking system. In addition, the ruling of the Indian Parliament's pending bill can still introduce an exclusive legislature for cryptocurrency and blockchain-related businesses. (Cointelegraph)