Supreme court of India not given stay on RBI order
In a breaking development, the Supreme Court (SC) of India has refused to grant a temporary stay on the RBI’s banking restriction on cryptocurrencies.
After the SC had earlier ordered that all cryptocurrency-related cases be clubbed together and fixed July 20, 2018 as the date for the next hearing, the Internet and Mobile Association of India (IAMAI) had requested that the hearing be brought forward as the RBI’s circular dated April 6 is set to come into effect from July 5.
Accepting the request, the SC had fixed the hearing for today (July 3). According to reports, the Supreme Court has refused to grant any relief to cryptocurrency entities. Banks will now have to stop extending their banking solutions to all cryptocurrency-related entities.
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I dont understand why RBI is not helping crypto space. It is inevitable, crypto has a good future , regardless of the Indian central banks's thought on Crypto. There are so many projects are underway and soon it will be all over the internet.
Hope 20 july order come in favor of India crypto lover.
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