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Home Court News Updates Courts Centre seeks 3 weeks’ time to respond to the pleas by crypto exchanges, challenging RBI order ceasing cryptocurrency transactions

Centre seeks 3 weeks’ time to respond to the pleas by crypto exchanges, challenging RBI order ceasing cryptocurrency transactions

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Centre seeks 3 weeks’ time to respond to the pleas by crypto exchanges, challenging RBI order ceasing cryptocurrency transactions

The Centre on Friday (July 20) sought three weeks time from the top court to file replies to the pleas by crypto exchanges, challenging RBI order ceasing cryptocurrency transactions by banks as well as transfer petitions regarding the same.

During the course of proceedings, Senior Advocate Gopal Subramaniam appearing for crypto exchanges said to the bench comprising CJI Dipak Misra and Justices AM Khanwilkar and DY Chandrachud that RBI order banning bitcoin as a legal tender doesn’t behove well in the era of digitilisation.

The matter has been listed to September 11, 2018.

India Legal had done a cover story titled The Great Bitcoin Scam unraveling an elaborate scam in Gujarat involving the bitcoins where Rs 88,000 crores was siphoned off from gullible investors.

—India Legal Bureau