chepicap.com
The Supreme Court of India is expected to reach a verdict on March 29, 2019 regarding the crypto ban and regulations, as reported by Entrackr. This will mark the end to a four week deadline given to the government to establish these cryptocurrency regulations.
With other countries moving forward in the crypto space, India has been at a halt for 4 weeks to try and figure out the best solutions to regulate crypto in the country. In February 2019, the Government was asked by the Supreme Court to come present regulations within a 28 day time frame.
This is reportedly “the last opportunity” for the Government to clarify its stance on crypto. Those in the crypto community believe that since India is so skeptical about crypto, they could be left far behind in the global crypto space. The government on the other hand is worried that crypto could have adverse effects on the country's national currency.
Chepicap reported last year on India’s decision to prohibit all the banks in the country on dealing with crypto. This came as a shock when the ban seemed so abrupt and details on the ban were left at a minimum. Months leading up to today there has been small pieces of information regarding a solution to this ban, but everything will come to fruition on March 29, when the Supreme Court of India meets.
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