RATE Group | Supreme Court of India Postpones Cryptocurrency Ban Hearing to November
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Supreme Court of India Postpones Cryptocurrency Ban Hearing to November

16 Oct Supreme Court of India Postpones Cryptocurrency Ban Hearing to November

Posted at 18:49h in Cryptocurrency News by

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The Supreme Court of India has postponed a hearing that would consider the Reserve Bank of India’s (RBI) ban on providing services to cryptocurrency-related business.

In an Oct. 16 session on the ban that prohibits banks and financial institutions from providing digital currency-related services, the court shifted the date of the next hearing to Nov. 12. The date was further extended to Nov. 19 due to national holidays in India, which fall on the initial set date.

The Reserve Bank of India against cryptocurrencies

In late August, the Supreme Court slammed the country’s central bank over its handling of the cryptocurrency business ban and ordered it to address complaints, giving the bank two weeks to justify it.

Originally issued in early April 2018, the RBI’s crypto circular prohibits banks from providing services to any individual or business that deals with cryptocurrencies while adding that it was also exploring releasing its own cryptocurrency in the future.

Following the…

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