The Supreme Court of India delays its crypto decision until next year
|The case which was due to be on Monday was about whether the crypto community was allowed to trade in India.
The petition that challenges the Reserve Bank of India’s restrictions on crypto and it was expected to be brought before the courts but now things have changed.
It has been said that the senior counsel requested a postponement of the hearing due to already being engaged in another supreme court case.
The court order released later in the session and it stated that they were adjourning the matter until the 14th of January 2020, where it will be placed “at the top of the board.”
All of this was about a circular issued last year in April by the Reserve Bank of India (RBI). Within it the central bank banned banking firms in India from providing their services to businesses working with cryptocurrencies. Coming into effect three months later, the banks started closing crypto exchange accounts and forcing them out of business.
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