Recently it was announced that supreme court of India has refused to take action against on RBI on the ban on crypto. The news has been announced by the CryptoKanoon which work on the insights of the announcement related to crypto.
Breaking! Supreme Court of India refuses to grant temporary stay against RBI’s banking restriction against Crypto. Stay tuned for further updates! #rbiupdate
— Crypto Kanoon (@cryptokanoon) July 3, 2018
The tweet mentioned that case against the RBI which was the temporary grant by the supreme court is refused.
In April, Rbi took the decision against the Indian banks to stop dealing with cryptocurrency and should quit within the given period. The time was given to be 3 months.
Though several online petitions have been signed against the RBI decision on banning cryptocurrency within the boundaries. Crypto community didn’t fall but built hate rate against the government.
The case against the RBI was filled by IAMAI, and later it was stated that RBI took the ban without researching and giving details.
We can see much hate from the crypto community for the current government, as it not following the technology trend with the world.
Is this end for crypto in India?
Not that easy, the trend within people for crypto shows the power & unity of the community. Though several exchanged launched solution for this ban by releasing their own P2P network where the individual person can buy and sell bitcoin and other cryptocurrencies.
Also, Indian PM, Modi is again supporting and believe in the technology of blockchain and believe that it may be a wonder in the society.
RBI Still yet to announce their final decision against the ban and other details and might lead to taking off of the ban with some good regulations.