RATE Group | Indian Supreme Court Hears In-Depth Arguments Against RBI Ban
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Indian Supreme Court Hears In-Depth Arguments Against RBI Ban

15 Jan Indian Supreme Court Hears In-Depth Arguments Against RBI Ban

Posted at 15:54h in Cryptocurrency News by

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Indian Supreme Court Hears In-Depth Arguments Against RBI Ban

India’s supreme court spent all day hearing arguments against the crypto banking ban by the Reserve Bank of India (RBI) on Wednesday. The counsel for the Internet and Mobile Association of India presented extensive arguments to convince the court that the central bank acted outside its jurisdiction and power in placing a banking restriction on the crypto industry.

Also read: Regulatory Roundup – EU-Wide Crypto Regulations, New Rules in Europe, US, Asia

Supreme Court Resumes Hearing Crypto Case

The Supreme Court of India resumed hearing the crypto vs. RBI case this week. On Tuesday, the court briefly heard the case as scheduled. The counsel for the Internet and Mobile Association of India (IAMAI), Ashim Sood, recapped the arguments he presented last year, starting with the basics of cryptocurrency and blockchain technology.

The hearing resumed all day on Wednesday. In addition to providing a recap of the arguments previously made, local news outlet…

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