Supreme Court of India delays the hearing on Crypto ban case; reschedules the hearing on 12th November
The case on crypto ban which was scheduled to be heard today by the Supreme Court has been rescheduled again to be heard on 12th of November, 2019. The case is in connection with the blanket ban on all crypto exchanges in 2018 put by the Reserve Bank of India (RBI).The hearing has been delayed several times. On 7th October, the Court postponed the hearing to 15th October, and today, it...
The case on crypto ban which was scheduled to be heard today by the Supreme Court has been rescheduled again to be heard on 12th of November, 2019. The case is in connection with the blanket ban on all crypto exchanges in 2018 put by the Reserve Bank of India (RBI).
The hearing has been delayed several times. On 7th October, the Court postponed the hearing to 15th October, and today, it further adjourned to 12th November.
The Indian Government has taken a conservative approach towards the cryptocurrencies. A bill drafted by an inter-ministerial committee proposes to ban all the cryptocurrencies in the country. The RBI had prohibited all the banks from providing services to crypto businesses in April last year. The Pune city police department was unsuccessful in cashing out seized crypto from a Ponzi scheme due to the ban.