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Posts tagged as “Crypto vs RBI”

Big Win For Crypto Community in India as Supreme Court quashes Banking Ban by RBI

The Reserve Bank of India in April 2018 pushed a circular that prohibited banks and other entities from servicing companies or individuals dealing in Cryptocurrrencies. India’s top court has said this circular aka ‘Banking Ban’ has failed the test of proportionality. India’s Crypto Community can rejoice today as the Supreme Court has quashed the Reserve Bank of India’s ‘Banking Ban’. Crypto exchanges and individuals will now be able open bank…

We have to Wait Longer for Supreme Court Judgment on RBI Vs Crypto

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…

Supreme Court to Hear Entire Argument for Crypto Vs RBI Case Again

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,…

Banking Ban: SC to Hear Crypto Case against RBI today

Update: Supreme Court has Quashed the RBI circular on March 04. 2020, deeming it unconstitutional. The Apex Court has listed Crypto Vs RBI matter “on top of the board” on October 15. The case has been heard by Justice Rohinton Fali Nariman and Justice Surya Kant until now. On October 15, the three judge bench will include Justice V. Ramasubramanian as well. After hearings on August 8, August 14, August…

First Crypto Exchange to Challenge RBI in Court Has Withdrawn their Petition

Kali Digital, the company behind CoinRecoil was the first exchange to challenge RBI’s Banking Ban in Delhi High Court. The Supreme Court had then ordered all related cases to RBI’s Banking Ban be transferred to Supreme Court. Kali Digital Withdrew its case from Supreme Court in August 2019, more than a year after fighting it along with IAMAI and other petitioners. Update: Supreme Court has Quashed the RBI circular on…

You need to Respond to IAMAI Point by Point: Supreme Court Directs RBI, gives two weeks

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…

Crypto Vs RBI: IAMAI Argues on Legality of RBI Banking Ban in Supreme Court

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…

Bitcoin SIP: From the Desk of a Lawyer Who Believes in Hodling

I was always curious about what Bitcoin is and how it works. When I read about it, I was blown by its attributes. Bitcoin is the answer to all the problems being faced by people due to the traditional and conventional banking system.  Bitcoin is limited in supply and hence scarce and thus extremely valuable, has a network effect, is completely decentralized, confiscation proof, inflation proof, permissionless, trustless, open source,…

How to Check the Status of Crypto Matter in Supreme Court by yourself!

Update: Supreme Court has Quashed the RBI circular on March 04. 2020, deeming it unconstitutional. Check the status of any case in Supreme court on the official website. How to check if the case is being heard on the listing day! A total of Five cases tagged together for Cryptocurrency Matter. Next date of hearing set to March 29, 2019 Crypto Community always insists “Do your Own Research”. We at…

Will Supreme Court Hear Crypto Vs RBI Matter today on January 15?

Last hearing was roughly two months ago on November 20, 2018. Supreme Court ordered to list the matter on January 15, 2019. The Government of India submitted affidavit stating they are close to submitting draft of regulations on cryptocurrency. But there have been no clear reports. Multiple News agencies have mixed reports on regulations or ban of cryptocurrencies. Perhaps the court hearing shall shed some light, or will it be…