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The Supreme Court of India has adjourned, for the second consecutive day, the final hearing on a case that could have decided the fate of cryptocurrencies in India. SC will now hear the case, filed by a few Indian cryptocurrency exchanges against the Reserve Bank of India for imposing a banking ban on crypto trading, on September 13
RBI order
In April this year, the apex bank had issued a diktat asking banks and financial institutions in the country to stop all banking activities and financial transactions with cryptocurrency exchanges.
The RBI order has adversely impacted the businesses of over a dozen crypto exchanges, including Zebpay, Koinex, Coindelta, Unocoin, and Belfrics, thus forcing many of them to move court. The ban also led to a massive spurt in trading of cryptos in the grey market, according to experts.
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