The Indian Supreme Court will hold a hearing in July in an effort to decide on the growing number of crypto-related petitions filed against the country’s central bank.
The Supreme Court has barred all other courts from accepting petitions in the wake of the filing of five petitions against the Reserve Bank of India’s (RBI) move to bar banks from dealing with cryptocurrency companies. The RBI published a circular in early April to that effect, saying at the time that the entities it regulates “shall not deal with or provide services to any individual or business entities dealing with or settling [cryptocurrencies].”
The hearing will be held on July 20, according to an Economic Times report.
One of the petitions was filed by a startup called Kali Digital Ecosystems – which planned to launch its crypto exchange, CoinRecoil – has been transferred to the Supreme Court.