- The Supreme Court of India scheduled to hear ongoing cryptocurrency case today listed as Item 1 to be heard first in the court as mentioned by Indian Cryptocurrency advocate.
- Supreme Court to resume hearing on Crypto Vs RBI and it has listed to be heard on 14 January as item 1 in court no. 4.
- Crypto kanoon posted another tweet stating that it is inevitable that the supreme court of India is taking an interest in the crypto matter.
The Supreme Court of India scheduled to hear ongoing cryptocurrency
Crypto Kanoon shared this update through his official twitter account, which currently has 14.6k followers. In his tweet, it mentioned that Supreme Court to resume hearing on Crypto Vs RBI and it has listed to be heard on 14 January as item 1 in court no. 4, the purpose of this session is to listen to the arguments RBI to the representations made by the Exchanges.
#CryptoVsRBI Supreme Court update.— Crypto Kanoon (@cryptokanoon) January 13, 2020
Matter is listed tomorrow on 14th and likely to be heard as item 1 in Court no. 4.
The purpose is to hear the arguments on the reply filed by RBI to the representations made by the Exchanges.
All the best to the lawyers representing #Crypto. pic.twitter.com/ov6cOjbQ6h
Today, the court has resumed, and mentioning matters dealt with the Crypto matter is listed in the very first position in the Supreme Court mentioning but was then shifted on the second position as per latest tweet by crypto kanoon.
Court passed over the item no. 1. It has first taken up item no. 2 for hearing. After item 2 it will take up larger bench matters (item 101 to 103). Thereafter the hearing of Crypto matter will begin.— Crypto Kanoon (@cryptokanoon) January 14, 2020
Later, Crypto kanoon posted another tweet stating that it is inevitable that the supreme court of India is taking an interest in the crypto matter. The court is concerned that if Crypto vs RBI case was taken first, then it might result block the board for a week and to avoid that the court decided to postpone the case which later will hear in the next segment.
It is clarified that Court wants to hear the Crypto matter but it has expressed that if Crypto matter taken up in the beginning then this might block the board for a week. It means that the Court is expecting long arguments.— Crypto Kanoon (@cryptokanoon) January 14, 2020
Stay tuned for further updates.
RBI Vs Crypto
In April 2018, RBI issued an order restraining banks, E-wallets and payment gateway from supporting Cryptocurrency exchanges and other businesses dealing with it. The order of RBI opposed and challenged by the crypto community of India.
In February 2019, the apex court had asked the ruling government to present it’s Cryptocurrency regulations in 28 days. The court will hear about the regulatory framework for cryptocurrency from the government before deciding the constitutionality of the RBI circular.
A special board comprised under India’s economic affairs, Subhash Chandra Garg to outline a suggestion around digital currency. Since Nov 2017, the board has been taking a shot at it. However, no stable arrangement has been in made in such a manner.