On Monday 25th July Supreme Court of India once again delayed the hearing on the petition filed on the crypto ban by Reserve Bank of India.
Next hearing July 29, 2019.
Crypto Community vs reserve Bank. #crypto #blockchain #india pic.twitter.com/MekCRVIdo2
— Varun | Blockchain Lawyer (@Blockchainlaw91) July 25, 2019
The original date of hearing was scheduled on 23rd July, but the hearing did not happen and was postponed to 2nd August and the later updated to 25th July. However, In the latest order from the supreme court, the hearing has been delayed again for the third time to 29th July the same date CME bitcoin future is expiring.
The struggle of Cryptocurrency community in India
The supreme court of India is yet to hold the first hearing of crypto ban petitions filed by many industry stakeholders. In April of last year, the Reserve Bank Of India banned all the regulated crypto exchange platforms. Since the ban, many Indian crypto exchange platforms have shut down including Zebpay and Unocoin. The Supreme court was supposed to hear the plea challenging ban in September of last year but since than court has been delaying the hearing. This decision by the supreme court will decide the future of cryptocurrencies in the country. As of now, the crypto-related activities in the country are left in a grey area as there is no law which clarifies if dealing in cryptocurrency is legal in the state or not.
