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RE: 4 Exchanges & 11 Individuals Move Supreme Court Against Reserve Bank of India's Circular!
Given the uncertainty, I think supreme court will favor the government . Most countries will support once a proper regulatory scheme is in place.We just avoided the next crypto blood bath since SEC took a wait and see approach.If not all cryptos except bitcoin would have been labeled securities and either would have needed to shutdown or comply with securities law
Supreme Court so far favours RBI but hopefully once all the facts are out I hope it will make the right decision. I've posted an update to this today.