Lifting of the ‘Banking ban’ on cryptocurrency in India by the Supreme Court has brought joy to crypto players, but some are asking to stay alert. Supreme Court of India quashed the Two year old circular by the RBI, which prohibited regulated entities from providing services to crypto businesses and traders. The news spread like wildfire in and outside India, as excitement runs high in the community. So how are…
Posts tagged as “Ashim Sood”
Update: Supreme Court has Quashed the RBI circular on March 04. 2020, deeming it unconstitutional. Almost 2 years after the Reserve Bank of India put a Banking restriction on Crypto Businesses and traders, all eyes are on Supreme Court to decide whether that move remains valid or not. The arguments concluded on January 28, and the judgment has been reserved by the three judge bench since. On January 28, 2020…
Update: Supreme Court has Quashed the RBI circular on March 04. 2020, deeming it unconstitutional. The three judge bench on Tuesday said they want to hear the entire Crypto Vs RBI matter from the beginning. Ashim Sood, counsel representing IAMAI argued for a few minutes before the Court adjourned for the day. After several adjournments, the most awaited trial in India for the Crypto Community finally reached hearing on Tuesday,…
Update: Supreme Court has Quashed the RBI circular on March 04. 2020, deeming it unconstitutional. In the latest hearing for Crypto vs RBI, the supreme court has directed RBI to respond to representation made by IAMAI back in May 2018, point by point. The court noted that RBI had simply forwarded the representation to the inter ministerial committee instead of addressing the points raised by IAMAI. The next hearing date…
Counsels of IAMAI, Crypto Exchanges and the RBI presented their arguments in Supreme Court today regarding the central bank’s circular to ban banks from supporting business and individuals dealing in Crypto. The court was adjourned for the day, to be heard on Wednesday August 21. Update: Earlier this article carried updates from the pre-lunch session. Now it has been updated with the full hearing details. The session started around 11…
Article 19(1)(g) of the Indian Constitution guarantees that all citizens shall have the right to practice any profession, or to carry on occupation, trade or business. In the last hearing for Crypto Vs RBI, the counsel representing IAMAI said they will take up how RBI’s Diktat violates the right of Crypto Community in India. The Apex court of India is currently hearing a case of IAMAI Vs RBI. The former…
In the second day of hearing, for Crypto Vs RBI’s Banking Ban, IAMAI’s counsels continued to argue on why RBI’s diktat is not legal or constitutional. The case was adjourned for the day, and will be heard next on August 20, 2019. From deeming the RBI bill unconstitutional to explaining the judges how Bitcoin and Distributed Ledger Technology works, Ashim Sood, the counsel representing IAMAI in court seemed to be…