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Bank Crisis Spreads in India – Deaths, Strike, Supreme Court Denial
23.10.2019
The Indian banking sector is facing multiple challenges. Customers of several cooperative banks are still struggling to withdraw their money, and deaths have been reported in connection with withdrawal restrictions. Meanwhile, some 300,000 state-run bank employees are on strike against what...
Indian Finance Minister Answers Crypto Questions at IMF Meeting
21.10.2019
At an IMF and World Bank meeting, Indian Finance Minister Nirmala Sitharaman talked about cryptocurrency and stablecoins when asked about Facebook’s Libra digital currency project. RBI Governor Shaktikanta Das also addressed the subject at the conference. Also read: Indian Supreme Court...
Supreme Court of India Postpones Cryptocurrency Ban Hearing to November
16.10.2019
The India Supreme Court has postponed a hearing regarding the Reserve Bank of India’s policy that bans financial institutions from giving services to crypto businesses
Indian Supreme Court Postpones Crypto Case to November
15.10.2019
The Supreme Court of India on Tuesday once again postponed hearing the case against the crypto banking restrictions by the Reserve Bank of India (RBI). The central bank has replied to crypto exchanges’ representation as directed by the court, which was supposed to resume hearing the case...
Indian Supreme Court Sets Date to Hear Crypto Case Next Week
7.10.2019
The Supreme Court of India has confirmed a new date to hear the crypto case after multiple delays. During the last hearing, the court directed the Reserve Bank of India (RBI) to reply to crypto exchanges’ representation within two weeks, which the central bank has done. Also read:...
Bank Raided, Arrests Made but RBI Still Restricts Withdrawals
6.10.2019
The crisis has elevated at the cooperative bank recently placed under regulatory restrictions by India’s central bank. Multiple branches have been raided and several arrests were made. However, the RBI continues to impose a withdrawal limit, preventing bank customers from accessing their...
Indian Parliament Member Helping Crypto Community Influence Regulation
17.9.2019
The Indian crypto community has made progress towards influencing the government’s crypto policies. Some industry leaders have met with an influential lawmaker who has agreed to help bring about positive crypto regulation in the country. Also read: India’s Popular ‘Who Wants to...
Indian Lawmaker Raises Hope of Positive Crypto Regulation
12.9.2019
A member of the upper house of the Indian parliament has given the crypto community some advice on what can be done to influence the government’s crypto decisions. He encourages anyone to reach out to him and discuss their concerns, including issues related to the draft bill to...
Crypto Can Boost Indian Economy – How Banning Will Hurt it
29.8.2019
The Indian economy is experiencing severe economic slowdown not seen in many years, and cryptocurrency can potentially help. However, the government is considering a draft bill to ban cryptocurrencies, which could have undesirable consequences on the economy. Meanwhile, the Indian crypto community...
India Facing ‘Unprecedented’ Economic Slowdown, Extraordinary Steps Urged
26.8.2019
Many signs indicate that the Indian economy is under grave stress, affecting nearly all sectors. “India’s economy is in a deep mess,” due to initiatives such as demonetization and GST, some lawmakers say, as they urge the government to handle the situation “which...
Indian Supreme Court Orders RBI to Answer Crypto Exchanges, New Date Set
21.8.2019
After hearing the arguments against the banking restriction by the Reserve Bank of India (RBI) in detail, the Indian supreme court directed the central bank to reply to the representations filed by crypto exchanges. Since the RBI has not adequately answered them, the court set a new date to resume...
India: Supreme Court Gives Central Bank 2 Weeks to Justify Crypto Ban
21.8.2019
India’s supreme court chastises central bank over crypto ban
RBI Defends Its Power Over Crypto in Indian Supreme Court
20.8.2019
The Indian supreme court heard the case against the crypto banking restriction by the Reserve Bank of India (RBI) in detail Tuesday. After many arguments challenging the RBI’s power over crypto were presented, the counsel for the central bank began making the case against cryptocurrency. Also...
Supreme Court has Ordered Bitfinex to Provide Documents Demanded by NYAG
20.8.2019
The supreme court of the state of New York has decided that the office of Attorney General of New York (NYAG) has authority over Bitfinex the cryptocurrency exchange. As per the court filing, the decision has let NYAG continue the investigation and demand the documents as and when the...
New York Supreme Court Denies Bitfinex’s Lack Of Jurisdiction Claim
20.8.2019
iFinex claimed the NY AG lacked sufficient jurisdiction for an investigation into the company's activities
RBI’s Power Over Crypto Challenged at Length in Indian Supreme Court Today
14.8.2019
The Indian supreme court resumed hearing the writ petitions against the banking restriction by the central bank, the Reserve Bank of India (RBI), on Wednesday. Many issues were discussed, ranging from the legality of the RBI action to the classification of crypto assets and how each country...
India Plans to Introduce Crypto Bill Next Parliament Session – A Look at Community Responses
10.8.2019
The Indian government has submitted a draft crypto bill to the supreme court and expressed its intention to introduce the bill in the next parliament session. The court subsequently set a new date to hear the case relating to crypto regulation. Meanwhile, the Indian crypto community has ramped...
Supreme Court of India postpones the case on Cryptocurrency Ban till January 2020
9.8.2019
Crypto trades in India have been confronting a year-long fight, when a Reserve Bank of India circular, which took effect on July 2018, levied a ban on regulated financial foundations to service crypto-related organizations. Stakeholders from several industries filed writ petitions to challenge...
Indian Supreme Court Heard Crypto Case in Depth Today
8.8.2019
The Indian supreme court finally heard the crypto case today after postponing it several times. The court addressed the government’s crypto policy as well as the writ petitions challenging the banking restriction by the central bank. The latter was heard in some detail while the former...
Calls Intensify for Indian Government to Regulate Cryptocurrency
29.7.2019
Since the Indian government unveiled a draft bill to ban cryptocurrency, the crypto community has ramped up its efforts to influence the government’s final decision. The community has plans to reach out to parliament members to show them how flawed the crypto recommendations the government...