India: Cryptocurrency Exchanges vs RBI
The battle between the exchanges and RBI continues inspite of multiple adjournments at the Supreme Court of India. The matter has been adjourned multiple times over the course of the past few months!
It's likely that we'll see more adjournments. Even 19th and 20th of November, 2018 saw the matter getting pushed forward. However, recently Supreme Court had directed the government to file its affidavit by the 20th of November and it seems as though it hasn't happened yet.
However, since exchanges are pushing forward with this matter we should see it getting listed again and again until it's resolved. I hope the government of India/RBI will file its affidavit so that the case can proceed forward. For the hearing today court was presided over by Justice Rohinton Nariman and Justice Navin Sinha.
Several exchanges are currently operating via p2p route and are doing extremely well. The bear market isn't going well for anyone and it would be good to have some positive news come out of India for sure. We're likely to see some progress in this case soon and I will update when the next hearing date is set and some important information is available.
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I no longer go and type Bitcoin India in Google Search,
Many thanks for the updates :)
hehe. Thank for staying updated through my blog. :)
After a long interval you arrived with an update of crypto/RBI battle. In your absence we almost were in dark about the latest developments in this regard. Thanks..
Sadly there haven't been much progress in this particular case. Thank you for your patience. I will have more updates coming up now that I am back home.
Yesterday I read an article on Quartz that the draft bill is ready and come in December. Is this really true?
It's been delayed several times over already. However, the government needs to respond to the Supreme Court and possibly we might see a draft come in because of this issue. However, I'm not sure which way it will swing. From what I've been hearing it's in the works but I haven't heard of any sureties when it would come. Maybe Quartz has a better source or they are simply speculating as this is hot news. We'll have to wait and watch. :)
If only I received a $10 upvote for every time it got adjourned .....
ROFL! That would've been epic!
That is really a sad part about the system and i really wish that the system improves and we can get some solution out of it.
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Thanks firepower sir sharing update cryptocurrency exchange vs RBI case report.
Crypto future is not clear in India and another side market is bleeding badly. Don't know what is going to happen. My portfolio is way down and am sure others would be having same scenario. There is news that we could see some draft about cryptocurrency regulation in india but again don't know whether it's true or just rumor.
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We're all down terribly in this bear market. I'm sure it'll tide away but we're gonna have to wait a while. I've seen bear markets before and it sucks for sure but the bulls generally come back stronger sooner or later. :)
I don't know what will happend in future,but the present working habits of sp has put in me some positive vibes .Lets see what will be the decision.Welcome home dear
@firepower, Yes, as expected the case is moving forward without any development. Current Cryptocurrency market is haunting many but this is the time to hold more strong mindset and attitude so that we can push ourselves effectively. And if we see positive results in India towards the Cryptocurrencies then for sure it will going to be an huge boost for sure. Keep up brother.
Wishing you an great day and stay blessed. 🙂