Week Two of RBI Vs. Crypto at the Supreme Court of India
Marie Huillet's original article for cointelegraph.com reduced by 71%
The Supreme Court of India has this week listened to further hearings in the landmark case against the Reserve Bank of India's ban on banks' dealings with crypto-related businesses. Diwan responded, noting the drawdown in volumes and the "Sharp decline in the prices after the RBI circular," yet the judge countered this with reference to the global bear market and the relative irrelevance of the RBI circular for cryptocurrency valuations - a point with which the counsel concurred. On Jan.
27, two of the earliest petitions brought against RBI will also be heard by the Supreme Court, notwithstanding previous indications that the government would attempt to forestall them.
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CN [too long; didn’t read]
Summarised crypto news.