Published On: Sun, May 13th, 2018

Supreme Court of India Strikes Out Injunction Against RBI Crypto Ban

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The Indian Supreme Court has struck out an interim injunction against the crypto ban of the Reserve Bank of India (RBI). The RBI banned banks and other financial institutions from facilitating cryptocurrency trades in the country. In response, a coalition of petitioners, comprised of four crypto exchange platforms and other startups, have gone to court, challenging the RBI’s directive.
Legal Battle Is Far from Over
The decision by the Supreme Court is the not the end of the matter as the case will be heard on May 17th. According to Crypto Kanoon, the court’s only decision was to decline the interim injunction request. Crypto Kanoon is an Indian legal platform that focuses on the cryptocurrency market.
Interim injunctions are preliminary injunctions compelling a party to the case to refrain from or to carry out specific acts. In this case, the injunction was to ensure a reversal of the RBI’s directive pending the outcome of the case. With the rejection by the apex court, the RBI directive remains in place within the country.

Supreme Court declined to grant interim injunction against RBI banking restriction. Fixed the matter for hearing on 17th May. #bitcoin #RBI https:// …

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Published On: Sun, May 13th, 2018

Supreme Court of India Strikes Out Injunction Against RBI Crypto Ban

Share This
Tags

The Indian Supreme Court has struck out an interim injunction against the crypto ban of the Reserve Bank of India (RBI). The RBI banned banks and other financial institutions from facilitating cryptocurrency trades in the country. In response, a coalition of petitioners, comprised of four crypto exchange platforms and other startups, have gone to court, challenging the RBI’s directive.
Legal Battle Is Far from Over
The decision by the Supreme Court is the not the end of the matter as the case will be heard on May 17th. According to Crypto Kanoon, the court’s only decision was to decline the interim injunction request. Crypto Kanoon is an Indian legal platform that focuses on the cryptocurrency market.
Interim injunctions are preliminary injunctions compelling a party to the case to refrain from or to carry out specific acts. In this case, the injunction was to ensure a reversal of the RBI’s directive pending the outcome of the case. With the rejection by the apex court, the RBI directive remains in place within the country.

Supreme Court declined to grant interim injunction against RBI banking restriction. Fixed the matter for hearing on 17th May. #bitcoin #RBI https:// …

Read more –> click here all content is copyright Bitcoinist.

Need Bitcoin marketing and PR? Bitcoin PR Buzz has been proudly serving the PR and marketing needs of Bitcoin and digital currency tech start-ups for over 2 years. Get your own professional Bitcoin or cryptocurrency press release CLICK HERE..

Powered by ABITCO.IN

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