India’s Supreme Court again refused to lift restrictions imposed by the Central Bank on cryptocurrency activities
India’s Supreme Court held a retrial this Friday over the country’s central bank’s restrictions on crypto-related activities of regulated financial institutions. According to the Twitter account Crypto Kanoon, which monitors cryptocurrency regulation in India, the request to overturn the central bank’s decision was not granted. The court motivated this by the fact that the participants in the process did not provide sufficient comments to make a decision.
All interested participants can send their comments within four weeks before the final meeting, which is scheduled for September 11.
The first session on this issue in the Supreme Court took place on 3 July. Then the court refused to lift the restrictions of the Reserve Bank of India, presented by it on April 5 and entered into force on July 5. At the same time, Zebpay, India’s largest cryptocurrency exchange, stopped processing fiat currency transactions..
Subsequently, the bitcoin rate on Zebpay deviated from the OTC average by $ 700, and Quartz, citing a high-ranking official, said that the government was working on the issue of legalizing cryptocurrencies.
“I don’t think anyone is seriously thinking about banning cryptocurrencies. The problem is with the regulation of trade, and we need to know where the money is coming from. If we legalize them as an exchange commodity, we can better regulate trade, ”the official said..
According to some commentators, the next postponement of the final decision is due to the fact that the government has not yet completed the development of the corresponding regulation..
South Korea decided not to close cryptocurrency exchanges, subject to strict regulation The South Korean government is preparing to introduce a number of restrictions in the field…
XRP becomes the second largest cryptocurrency once again Developed by the American fintech startup Ripple, XRP once again demonstrates outstanding…
Craig Wright has dropped charges against Vitalik Buterin, who called him a fraud The self-styled creator of bitcoin Craig Wright has dropped a lawsuit about…