Indian government told the Supreme Court that Bitcoin and cryptocurrency regulations are in final stages. Supreme court will hear the petitions filed against the RBI ban on cryptocurrencies.
The Supreme court heard the crypto case on Monday. The matter was heard for a very little time. The main headline of the hearing is:
“The matter started with the counsel for the Union of India stating that its committee is in the final stages of deliberations and that the matter should be heard after that.”
The Supreme court give 4 weeks time to the Indian government to come up with a final decision otherwise the supreme court will
made a decision in favour of Bitcoin and cryptocurrencies.
Reserve Bank of India gives a strict statement to banks not to deal with cryptocurrencies. The largest cryptocurrency exchange Zebpay was shut down in India after that notice. Some Indian cryptocurrency exchange come up with creative solutions and introduce peer-to-peer deals for the users.
Do you think the Supreme court lift the ban on cryptocurrencies? Will the Indian government regulate cryptocurrencies in India?
Please let us know your valuable opinion in comments.