What's you view on the court case ongoing in Supreme Court-Positive or Negative?

[~Money~]

Indian law system sucks very badly.. one thing is coming very frequently from there and its taeekh Pe tareekh   the court could not hear the case and adjourned the hearing to 12 november 2019.may be govt is trying to push back so they can get some time for bringup the ban bill   .. I am 99% sure we will get crypto ban because banning is easy .you dont require to have teach knowledge for banning something, only 1% chance for regulations.

[1713507053]

1713507053

[akhjob]

^ Yeah the adjournment of the crypto case has become a common thing  :[ But I don't think that the Govt will impose outright ban on Crypto. I believe that they'll most probably comply with the guidelines set by the Financial Action Task Force(FATF) of the G20 nations. Further I'm sure that FATF will have a positive stance towards Crypto, considering that Japan is Crypto friendly.

[Stedsm]

I strictly believe that the Gov is still not in favor of BTC at least and they want their national digital currency set up. I don't know why they want to come up with the same when we already have PayTM, though it doesn't have blockchain involved but all the remaining features are the same - everything straight from your bank account to the other party's account where we all get our finances tracked by the Gov and Higher authorities as well as Tax Authorities and we may be traced through as well as reached too because we give our number as well as many of us follow the KYC procedures as it is now mandatory. I think there should be a one on one debate between the community and some Gov officials in the court itself and the hearing should go on till a decision is taken because no matter whatever the outcome is, people will continue to use BTC and this might also increase some "in the dark" trades. It's like if we get something positive on our side, this will at least let those businesses (exchanges) get the pleasure to begin serving their customers with those trades which were stopped due to RBI's involvement here.

[~Money~]

little correction in court date: Next date is 19th November 2019. Initially the date of next hearing was fixed and verbally communicated by the Judge as 12th November. But since 12th Nov. is a holiday as per Supreme Court calendar, so the next date has been extended to 19th Nov .... taeekh Pe tareekh as expected:

[erikalui]

So it again got postponed. Why they aren't willing to even hear the case? I'm not being negative now and am absolutely clueless whether they want to ban it or not. Sad thing is that our Government has strong views when it comes to politics and nothing else and due to this so many exchanges went bankrupt inspite of following all legal norms.

[chronicsky]

almost a year now. or more ?

Regardless, am not sure i would want the decision to happen anyway because it does look like going to the wrong direction.

maybe it's good that we keep getting, tareekh pe tareekh

[~Money~]

So it again got postponed. Why they aren't willing to even hear the case? I'm not being negative now and am absolutely clueless whether they want to ban it or not. Sad thing is that our Government has strong views when it comes to politics and nothing else and due to this so many exchanges went bankrupt inspite of following all legal norms.

actually on 12 November we have guru nanak ji birth anniversary and thts why off day on 12 nov... and on 19 nov not sure if court will hear the case or not,  you know the indian law system .. everything and nothing is possible there

[akram143]

So it again got postponed. Why they aren't willing to even hear the case? I'm not being negative now and am absolutely clueless whether they want to ban it or not. Sad thing is that our Government has strong views when it comes to politics and nothing else and due to this so many exchanges went bankrupt inspite of following all legal norms.

actually on 12 November we have guru nanak ji birth anniversary and thts why off day on 12 nov... and on 19 nov not sure if court will hear the case or not,  you know the indian law system .. everything and nothing is possible there

Indian laws made of politicians influence and loopholes but not for the betterment of country.

[libert19]

I guess that draft bill will be debated in winter session, this can overrule the court decision so this case may never get it's hearing.

[Stedsm]

I guess that draft bill will be debated in winter session, this can overrule the court decision so this case may never get it's hearing.

I believe they've just done what they wanted, stopped the banking services by not allowing them to serve exchanges and other people who are anyhow related to crypto dealings but everyone's got their way, thanks to the somewhat untraceable nature of BTC and if you do it right with the use of both VPN and a different address usage every single time you conduct a transaction, I think nobody will be able to trace your back till you leave any fingerprints (evidence) behind. Honestly, like most crypto enthusiastic people, I also don't want the decision to take place as this will be where the Central authorities will jive in, taking control of almost everything from the roots.

actually on 12 November we have Guru Nanak ji birth anniversary
--snip--

Please respect by keeping the first letter of Guru Nanak Devji in capital. However, FTFY.

[~Money~]

I guess that draft bill will be debated in winter session, this can overrule the court decision so this case may never get it's hearing.

actually that's what I am thinking rt now .. but if they ban crypto then it will huge loss for India and their people.. and govt action will increase the black market for buy n sell of crypto .. in the end, govt will lose tax and other charges.. and they will kill the thousands of crypto users income source.

[pawanjain]

I guess that draft bill will be debated in winter session, this can overrule the court decision so this case may never get it's hearing.

actually that's what I am thinking rt now .. but if they ban crypto then it will huge loss for India and their people.. and govt action will increase the black market for buy n sell of crypto .. in the end, govt will lose tax and other charges.. and they will kill the thousands of crypto users income source.

I believe we will never get a proper resolution in regard to the crypto hearing since it will always keep going on and on while other countries accept crypto and reap its benefits.
Only then will the Indian government realise the benefits of legalizing crypto and may be then accept crypto as it is.
Anyway, I have been kept on telling this, it won't matter if the India government doesn't favor the crypto case because there will still be ways to use crypto.
It's just that we will face little difficulties but it won't make us stop using crypto completely.

[legendster]

So it again got postponed. Why they aren't willing to even hear the case? I'm not being negative now and am absolutely clueless whether they want to ban it or not. Sad thing is that our Government has strong views when it comes to politics and nothing else and due to this so many exchanges went bankrupt inspite of following all legal norms.

The postponement of the date could be because of holidays.

What's exciting is this : "..many countries were cautioning on rushing into this; - Sitharaman

Despite the negative pressure from the govt. they haven't outrightly said its something that is entirely a bad thing or banned for non-commercial use. They revolve around the word caution. Sooner or later they would have to realize that their caution to the public of the virtual money being used for terrorism or to invade consumer privacy is pure bullshit that the average person can see right through. It is then when they will have to shift their narrative.  

[amishmanish]

So it again got postponed. Why they aren't willing to even hear the case? I'm not being negative now and am absolutely clueless whether they want to ban it or not. Sad thing is that our Government has strong views when it comes to politics and nothing else and due to this so many exchanges went bankrupt inspite of following all legal norms.

Very true Erikaui. Sadly this really seems to be the case with the present Govt. They have played the populist politics very well to gain an unprecedented presence in both houses. Yet, it is getting more and more evident that they just don't have the expertise when it comes to policy making or implementation.

Also, I think the delay in SC is also attributable to the other massive hearing going on right now on the Ayodhya matter.

[Stedsm]

So it again got postponed. Why they aren't willing to even hear the case? I'm not being negative now and am absolutely clueless whether they want to ban it or not. Sad thing is that our Government has strong views when it comes to politics and nothing else and due to this so many exchanges went bankrupt inspite of following all legal norms.

Very true Erikaui. Sadly this really seems to be the case with the present Govt. They have played the populist politics very well to gain an unprecedented presence in both houses. Yet, it is getting more and more evident that they just don't have the expertise when it comes to policy making or implementation.

How come these shit guys who don't even have an IQ level of 0 and IQ goes under negative when they are asked to sing the National song because they don't even know it, will make policies about crypto? They know nothing about crypto, not even interested in learning more about the aspects how crypto can be useful to our country or any place where it can be used. They know nothing about blockchain, don't give shit when it comes to giving time to learn more about it. Come on, they can't learn shit about it because they're too busy with their business (politics) that they have the excuse not to take time to understand anything. The reason why they can't get these things in their brains is they're all oldies and we've got nobody like Anurag Thakur to take immediate actions after analyzing whole situation in the country about a topic we're all eager to get settled. These oldies just hear this and that about BTC from some rascals claiming that BTC is a ponzi, and voila, the next day they come up with a Bill asking the court to ban crypto completely without even taking the time to understand that it wasn't BTC's fault if somebody used it for their criminal activities or to scam someone.

Also, I think the delay in SC is also attributable to the other massive hearing going on right now on the Ayodhya matter.

Again, the delays are also due to the fact that the Supreme Judge himself may not be able to understand and is being tried to get brainwashed about the whole situation while crypto really has nothing to do with what our Gov is presenting as an argument in front of the Honorary Judge. One more cause is that our country's case decisions take years to be actually received due to the laziness and trials by advocates to take dates ahead in the name of "We need more time to gather more evidence for our case to be proven strong".  

[sarojan9980]

In supreme court last case happens in August 2 of 2019 but there is again post poned to other date actually cryptocurrencies may ban or not it is not finalized actually it leads more time I think it will take time to decide. It may ban or may survive 50 and 50 chances are there let's see what happen we have to wait and see that's it no more options.

[libert19]

So it again got postponed. Why they aren't willing to even hear the case? I'm not being negative now and am absolutely clueless whether they want to ban it or not. Sad thing is that our Government has strong views when it comes to politics and nothing else and due to this so many exchanges went bankrupt inspite of following all legal norms.

The postponement of the date could be because of holidays.

What's exciting is this : "..many countries were cautioning on rushing into this; - Sitharaman

Despite the negative pressure from the govt. they haven't outrightly said its something that is entirely a bad thing or banned for non-commercial use. They revolve around the word caution. Sooner or later they would have to realize that their caution to the public of the virtual money being used for terrorism or to invade consumer privacy is pure bullshit that the average person can see right through. It is then when they will have to shift their narrative.  

Which holidays were on oct 15? They could have heard the case on specified the date and given a new one.

What happened was they keep delaying, which also gives more time to RBI then whatever was specified.

Our nation needs to be punctual.

Regarding, use of crypto in terrorism, it might not be a 'pure bullshit' it does get used for illegal purposes but guess what crypto's use for illegal activities is much lesser than cash.

Edit: https://bitcoinmagazine.nl/2019/07/dollar-800-bitcoin-witwassen/ (use translate in your browser).

[Stedsm]

--snip--

What's exciting is this : "..many countries were cautioning on rushing into this; - Sitharaman

--snip--

What was more exciting than that was the fact that these people covered only Facebook's Libra and so, comparing that shit to BTC is purely stupid from our Gov's end. They've already taken years, and now they think they shouldn't rush in order to come up with a policy whether crypto is approved or banned in our country? Geez, they need to understand what level of business are the exchanges losing here and due to the same, they are also slipping the opportunity of getting taxes from a lot of involved entities in crypto at a huge scale. We've got a phrase I'd like share - "Apne pair pe kulhadi de maarna". That's what our Gov did by allowing RBI to take strict actions and just stop every single person they find suspicious of trading in cryptocurrencies.

Which holidays were on oct 15?

Dr. APJ Abdul Kalam's Birthday which was later declared as "World Students' Day" in 2010 by the UN.

Our nation needs to be punctual.

Trust me, you won't be able to see this quality fully developed in our country at least during this birth of yours.

[Clement Kaliyar]

So it again got postponed. Why they aren't willing to even hear the case? I'm not being negative now and am absolutely clueless whether they want to ban it or not. Sad thing is that our Government has strong views when it comes to politics and nothing else and due to this so many exchanges went bankrupt inspite of following all legal norms.

The problem with the court is that they do not have a precedence dealing with a case like this and the judging panel too needs to study about it as the accusation from the government is that bitcoin will disrupt the economy and it will be used to fund terrorism and a judging panel cannot take a decision like that without understanding everything, even if it is a normal clear cut case we will face many delays, now this will be a challenge for the judiciary and i am expecting another delay even after the present scheduled date in November.

[jatin729]

Result will be positive for Indian crypto community,

There are certain issues if they ban crypto?

1. Dekho bhai trading to hoti hi rahegi jo marzi ho jaye, P2P exchanges to khin se bhi work kr skti hai.
2. Local bitcoin websites is one of the best alternative if they ban crypto.

Govt. ke pass koee or chara nhi hai, unko crypto ko consider krna hi pdega as an asset exchange like SEBI recognize stock market operations.

Agar govt. ko lagta hai crypto can be use of fund terrorism then We cannot deny that, Govt. must create proper norms that every exchange has to follow.

#Wewantcrypto #Blockchain