India Supreme Court Seeks Centre’s Opinion on Cryptocurrency Within 2 Weeks Deadline

On Thursday India’s Supreme Court has asked the Centre government to give an official stance on cryptocurrencies within two weeks.
The Supreme court held a hearing on multiple petitions filed by industry groups, local cryptocurrency exchanges, and Internet & Mobile Association of India (IAMAI), have confronted a banking blockade obligatory by the central bank in April.
The court decided by inviting that the government states its view on the matter within two weeks, according to the Economic Times report on Friday. Founder and CEO of Indian crypto exchange WazirX, Nischal Shetty said in a tweet that the Supremecourt  had enquired the central government to “file an affidavit related to the findings of the crypto committee set up by them.”
According to the Economic Times report, “The government must give some finality to the issue. We have got employees. There are jobs,” Nakul Dewan, legal counsel for nine of the cryptocurrency exchanges included in the hearing.
According to the new update of the Supreme Court, the following wave hearing on the substance will be held on Nov. 20.
The Reserve bank of India’s order stopping bank access has produced significant issues for the exchange of cryptocurrency in the country, that have been looking for ways to retain their businesses from fading, including crypto-to-crypto trading. Though Zebpay, was the major
cryptocurrency exchange by trading volume in the country, bring to an abrupt stop last month. Recently, last week police in the city Bangalore, India, take hold of suddenly a cryptocurrency ATM.
Co-founder and chief technology officer of Unocoin, Harish BV were arrested for fixing a cryptocurrency ATM.
According to the report of The Hindu on Wednesday specified that the Central Crime Branch arrested Sathvik Vishwanath, Unocoin’s CEO and co-founder, a day later.

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