The Supreme Court of India heard a petition against the crypto banking ban by the Reserve Bank of India (RBI) on Tuesday, July 3. However, it did not grant a stay on the ban. Instead, this petition, which was filed by the Internet and Mobile Association of India (IAMAI), will be heard along with four other petitions on July 20.
RBI issued a circular on April 6 banning all financial institutions under its control from providing services to cryptocurrency exchanges, starting on July 5. Without the stay by the Supreme Court, banks are likely to stop providing their services on July 5 per RBI’s order.
Shutting Down Fiat Support
One of India’s largest crypto exchanges, Zebpay, announced Wednesday:![indian-exchanges-responding.webp] but I like bitcoin