Indian Supreme Court Today Host Final Hearing On RBI’s Crypto Banking Ban

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The Indian Supreme Court today is hosting the final hearing of the ongoing case between cryptocurrency exchanges and the central bank concerning the banking ban imposed by Reserve Bank of India (RBI) earlier this year.

The country’s central bank issued a circular on April 6, banning banks from providing services to crypto businesses. The ongoing hearing will allow different players in the market to expose their views on the banking ban that was imposed by the RBI on April 6.

Meanwhile, a number of crypto exchanges operating in the country developed methods to allow users to continue to deposit and withdraw Indian rupees. Among them are Wazirx, Instashift, and Coindcx exchanges which offer services based on the exchange-escrowed peer-to-peer (P2P) model.

On the matter, Wazirx’s CEO, NIschalShetty, commented:

“The SC hearing is not the end of the road but the beginning of the crypto journey in India. If the outcome is positive then it will definitely boost trading volumes. If the outcome is negative I don’t think there would be much impact on the existing...

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