One petition has been filed in Supreme court of India stating that Reserve Bank of India's orders instructing Indian Banks to ban any crypto currency transactions. Previously Banks were instructed by the Central Bank (RBI)
Reserve Bank of India previously banned crypto transactions and instructed Indian Banks not to allow purchase of crypto currency using Bank account. The decision of RBI has been challenged. A petition has been filed in Supreme Court requesting intervention and removal of ban. Let us see what happens.
https://t.co/iC03dple1F The latest petition was filed by
Kali Digital Eco-Systems, An Ahmedabad firm which has planned to launch a cryptocurrency exchange in September 2018. The Kali Digital Eco-Systems has challenged the recent RBI crackdown that banned the nation's bank from dealing with exchanges or similar services due to constitutional issues.
According to
Indian Constitution, Article 19(1)(G) which allows every citizen to choose any occupation, trade or Business. The court hearing on this petition is expected to arrive in July 2018.