India’s Supreme Court refused to lift a ban on cryptocurrencies issued in April by the Reserve Bank of India.
Remember India’s Reserve Bank? It’s the central bank that apparently didn’t consult with any experts before issuing its ban blocking the nation’s banks from having anything to do with cryptocurrencies.
According to Quartz, the high court is supposed to hear arguments on the ban on July 20, which is two weeks after the ban goes into effect. However, the Internet and Mobile Association of India, which counts bitcoin (BTC) exchanges among its members, sought an early hearing. That is why the court ruled this week.
The fight is far from over. There’s still that July 20 hearing. Read more here.