Indian Supreme Court To Hear Longstanding RBI Vs Crypto Today

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Steve Anderrson
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates: https://t.me/thecoinrepublic
Indian Supreme Court To Hear Longstanding RBI Vs Crypto Today

  • 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

case today listed as Item 1 to be heard first in the court as mentioned by Indian Cryptocurrency advocate. The twitter user with account name crypto kanoon represents Indian crypto community and opposes anti-crypto law by RBI.

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.

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.

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.

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.

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