Indian supreme court to rule on cryptocurrency case on Sept. 11 — Quartz

The wait continues for Indian cryptocurrency exchanges.

On July 20, after a short hearing, India’s supreme court set Sept. 11 as the date for the final hearing. The court will also pronounce the verdict at the end of those hearings—in the cases filed by the bourses against the Reserve Bank of India (RBI).

In April, the RBI came down heavily on these exchanges and traders, ordering banks to close all cryptocurrency-related accounts within three months. The deadline for that came into effect in the first week of July.

Due to the central bank’s crippling regulations, trade has been severely affected in the once booming virtual currency ecosystem of Asia’s third-largest economy. Cornered, the exchanges then dragged the RBI to the apex court. In the last hearing, bourses were hoping for some reprieve but were disappointed.

“We need to wait for about 50 more days now and every day matters as the Indian cryptocurrency ecosystem is getting affected, so we were hoping for a…