Supreme Court asks Government of India to finalise cryptocurrency regulations in 4 weeks

In an unexpected move, the Supreme Court of India heard the cryptocurrency matter today which was originally expected to come for hearing tomorrow. According to blockchain regulatory analysis platform Crypto Kanoon, the apex court has asked the Indian government to finalise cryptocurrency regulations in 4 weeks. Otherwise, the Supreme Court will make its own ruling in the case.

The case had taken an interesting twist last month when the counsel representing cryptocurrency exchanges challenged the validity of the RBI banking ban in the Supreme Court and argued that this should be heard as a separate issue from the government committee report. The Court had admitted their appeal and said that the validity of the RBI ban should be heard and decided.

Crypto Kanoon has said the court order is an opportunity for the government of India to come up with cryptocurrency regulations based on the findings of the cryptocurrency committee led by Subhash Chandra Garg. This is definitely a fantastic piece of news for Indian investors who have been waiting patiently for regulatory clarity on cryptocurrencies. We do hope that we will see positive cryptocurrency regulations in India within the coming 4 weeks.