After one-and-a-half months of delay, the Supreme Court of India finally brought up the case filed by RBI (Reserve Bank of India) against the ban of cryptocurrency banking in the country, on Sept. 11. The SC has asked the gov to furnish the findings of its committee report on understanding the crypto space and the recommended regulatory measures by the committee for the same.
After reportedly getting postponed by the supreme court for many days, the case finally came to the top of the table on Thursday, Oct 25. On this matter, the CEO of Indian crypto exchange Wazirx, Nischal Shetty has told in an interview that the SC has given two weeks of time to the gov-led committee to file an affidavit stating their understanding on crypto space.
He further added that it is yet not clear what the report contains. The govt can either submit the report in the court for everyone to see or they may just inform the court about their next move on crypto in India, said Shetty. Earlier, Subhash Chandra Garg, the head of the committee had told that the committee will furnish the guidelines by September. However, as per their current clarification, it is not going to be ready before the year’s end.