Supreme Court fixes September 11 as the final disposal date for petitions against RBI

In today’s big news, the Supreme Court has listed the RBI cryptocurrency case for final disposal on September 11th. In a series of tweets, crypto regulatory analysis platform Crypto Kanoon revealed that “limited arguments were advanced on behalf of IAMAI and RBI today. Since SEBI and few others have not filed their response to the Petition seeking regulation, so the Court directed for completion of pleadings.” All the remaining parties will now have to file the reply within 4 weeks. A lot of cryptocurrency investors in India who were awaiting a decision from the Supreme Court hearing today will now have to wait for nearly two months i.e September 11th for a final decision on the matter. Also, there has been no stay order on the RBI cryptocurrency ban which means that the banking ban will also stay in place. Users still cannot use their banks to trade cryptocurrencies with INR and will have to be dependent on P2P platforms on Koinex and WazirX to cash out and buy cryptocurrencies with INR.

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