Supreme court gave 4 weeks to Indian Government to bring clear Crypto regulations
Nobody expected about crypto hearing today in Supreme Court of India. As People was waiting for Tuesday as the regular cases hearing happens usually on Tuesday onwards. On 17th Jan, 2019, When this crypto regulation matter came for hearing inside the court, Supreme court asked to Indian Government for a time frame to bring affidavit for crypto regulations in India.
Last time on 17th of January, One of IAMAI,s petitioners has challenged to constitutional validity and argued that the ban is unconstitutional and claimed that this crypto ban is not constitutionally valid, As all the local Crypto exchanges are part of IAMAI (Internet and Mobile Association of India). because of this ban Crypto business are facing losses. Court acknowledged this ban on crypto and asked to discuss on this case in the last week of February.
“Today court apparently tended to the issue with respect to cryptocurrency and the Call number was 53. Supreme court of India have given 4 weeks to Indian Government to bring clear regulations on cryptocurrencies after this court will make decision on crypto banking ban by Reserve Bank of India.