RATE Group | Three Days From Hearings Before India’s Supreme Court on Crypto Ban
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Three Days From Hearings Before India’s Supreme Court on Crypto Ban

17 Jan Three Days From Hearings Before India’s Supreme Court on Crypto Ban

Posted at 19:11h in Cryptocurrency News by

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The Supreme Court of India has wrapped up the first three days in a hearing on a landmark case brought against the country’s central bank against its ban on banks’ dealings with cryptocurrency-related businesses.

From Jan. 14 through 16, proceedings were focused on arguments presented by Ashim Sood, the legal counsel for the the Internet & Mobile Association of India (IAMAI).

IAMAI is a not-for-profit industry body whose mandate is to appeal to governments on behalf of internet industry consumers, shareholders and investors. Members include Yahoo! India, Apple, eBay, Unocoin and Etsy.

On the heels of both public and industry-led petitions, the IAMAI is levelling a case against RBI’s controversial imposition of a blanket ban on banks’ dealings with crypto businesses back in April 2018, which came into effect in July of that year. 

The ban has taken a heavy toll on the local industry, leading major crypto exchanges such as WazirX to overhaul their business models so as to avoid…

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