Press "Enter" to skip to content

Posts tagged as “iamai”

Binance Joins Internet and Mobile Association of India (IAMAI), to Strengthen the Fight for Crypto

India’s crypto sector has been on its own, with news like a complete ban looming around every now and then. Binance has joined the country’s top internet association (IAMAI) in a bid to join the fight to legitimize the industry with its reach and resources. One of world’s largest Cryptocurrency exchange Binance has has joined the crypto-asset exchange committee at the Internet and Mobile Association of India [IAMAI], the association…

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,…

First Crypto Exchange to Challenge RBI in Court Has Withdrawn their Petition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

August 20: Crypto Matter Supreme Court Hearing Summary

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…

IAMAI Counsel to Argue RBI’s Banking Ban violates “Right to practice any profession”

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…

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…

India’s Supreme Court is currently Learning What is Bitcoin and Distributed Ledger Technology

Update: Supreme Court has Quashed the RBI circular on March 04. 2020, deeming it unconstitutional. The Supreme Court of India is hearing arguments in a trial of Cryptocurrency community vs Reserve Bank of India. The later has put a ban on all the regulated entities such as Banks, NBFCs, etc to not support any individual or businesses that are dealing in Crypto assets. The fight is for the banking rights…

Supreme Court Hears Arguments against RBI’s Banking Restrictions for Cryptocurrencies in India

Honourable Supreme Court earlier today moved Rohan Bhowmick and Siddharth Dalmia’s petitions against Union of India regarding Crypto regulations to January 2020. However, the petition by IAMAI against the RBI’s Banking Restrictions was heard in court today. The next hearing date is August 14, 2019. Supreme Court of India heard the case of IAMAI against RBI’s Banking restrictions on Thursday, Aug 8. Multiple petitions in the court were clubbed together…