India: Crypto Vs RBI + Compilation Of Arguments From Supreme Court Of India!
I've been rather busy and there hasn't been a lot more to write about other than the case is proceeding as anticipated after many delays. Currently, the counsel Ashim Sood repping IAMAI is doing a fantastic job kicking our central bank where it hurts the most with his arguments countering RBI's claims.
Supreme Court of India has taken note of certain actions of RBI and has ordered the central bank to respond to some of the arguments raised by Ashim Sood.
A very interesting situation rose where the Judge seemed to be put off by the attitude projected by RBI
Now justice Nariman questions RBI why you have not properly responded to the representation. You just said that we are forwarding to Govt. Angrily says this is not an answer.
Justice Nariman Reiterates further that this is mot an answer Mr. Counsel. Do you still want to give an answer?
Exchanges are not asking to uplift the ban but they are only asking you to reconsider. If you don't give an answer to it, I will pass the judgment.
Case takes the most unpredictable turn. Justice Nariman directs that RBI must respond to the representation in the manner appropriate. Offers to defer the case for 2 weeks as part-heard, let the answer come on reconsideration of banking ban by RBI. RBI has agreed.
Kudos to Justice Nariman for seeing the issues in RBI's actions. But to fully understand the entire context of the quote I've shared above please check out the compilation.
If you are keen on reading the arguments that have taken place so far then CryptoKanoon + CoinDCX exchange have this massive compilation here.
Please go to twitter and support #IndiaWantsCrypto! Thanks.
Fingers crossed for a win in our favour which will have a big impact on the shitty draft ban bill.
If you like my work kindly resteem it to your friends. You may also continue reading my recent posts which might interest you:
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Now its time to allow crypto coin in India to raise the poor economy