India: Will The Supreme Court Ever Give Importance To Crypto Exchanges Vs RBI Case?
Every day the matter gets listed, it continues getting postponed again. It's just incredible that we've managed to get a case in the court at all. I can't help but wonder where this will end and if the crypto community in India will receive any justice at all.
Often time delays and tactics from the government have worked to ensure people don't benefit from emerging technologies at all.
Things are changing very quickly and these delays are causing a lot of anxiety amongst people working in this space. There's so much at risk for many working professionals as well as investors. It's hard to think of setting up a business in this area in India now.
At its peak we had about 20-25 exchanges operating and a few crypto exchange startups underway, and today only a handful 5-6 remain working as many shutdown in the past 6-8 months or moved out of India.
Tomorrow the case will get listed again in the Supreme Court and one can only hope that the judges presiding will have the time to hear the case and arguments from both sides, especially IAMAI lawyers representing the crypto community at large.
Hopefully, I will have something positive to report tomorrow. Fingers crossed as always!
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I doubt that anything positive will come out of this. Day by day I'm losing my confidence on this case. If the current government doesn't wish to, it won't happen.
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