Supreme Court of India announces postponement of cryptocurrency bank hearing
- The Supreme Court of India has announced the postponement of a cryptocurrency hearing.
- The hearing would consider the Reserve Bank of India’s (RBI) ban on providing services to cryptocurrency-related business.
There was a legal session on the ban which prohibits banks and financial institutions from providing digital currency-related services; the court has now changed the date of the next hearing to Nov. 12.
The date was further extended to Nov. 19 due to national holidays in India, which fall on the initial set date.
As a recap, in August, the Reserve Bank of India received much backlash from the Supreme Court. It was slammed over its handling of the cryptocurrency business ban and ordered it to address complaints, giving the bank two weeks to justify it.
Author
Ken Chigbo
Independent Analyst
Ken has over 8 years exposure to the financial markets. He started his career as an analyst, covering a variety of asset classes; forex, fixed income, commodities and equities.
