Today, 11 September could be a historical date in the Indian Crypto history as the Supreme Court would have announced it’s decision on the RBI Cryptocurrency Circular challenge case.
It all started back in April 2018, when the Reserve Bank of India (RBI), which is the central banking authority issued a circular prohibiting all the banks and digital wallets associated with RBI to stop providing the banking facilities to those companies which are providing the crypto-INR exchange facilities.
In response, various cryptocurrency exchanges started challenging RBI in different courts. All of these cases were clubbed and were taken to Supreme Court.
Today’s matter was to be heard by heard by Justice Rohinton Fali Nariman and Justice Indu Malhotra. Due to a long hearing of another case, the RBI Cryptocurrency circular challenge case was first postponed to 2PM. It was again moved to 3.30 PM as the previous case took a lot of hearing time. However, the case is now again postponed and the hearing shall take place tomorrow i.e, 12 September 2018.
Advocate Harpreet Singh Ajmani, who is representing the RBI, was also present at the Supreme Court today.
RBI had submitted a counter affidavit on September 8 as per the court records. Today, it was expected that Securities and Exchange Board of India (SEBI) would also be offering it’s arguments.
Will Supreme Court will pass out it’s ruling against or in favour of cryptocurrencies? Will the Supreme Court even give it’s final decision tomorrow or will adjourn the matter again to further date? Let’s see what’s the future of Cryptocurrencies in India tomorrow. Stay updated with KryptoMoney.com. Follow us on Twitter.
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