Every bitcoin trader was eagerly waiting for 3rd july sc hearing.The Supreme Court today supported RBI's circular that virtually banned banks from providing services to any individual or business dealing in cryptocurrency.
However,on 20 july there will be again a hearing by a three judge bench headed by Chief Justice Dipak Misra.
There is a chance that we see some positive move on 20th july.
According to RBI's 5th april notice RBI's regulated entities were asked to wind up relations with individuals and firms dealing in virtual currencies by July 5.
Does this mean bitcoin ban in India?
NO, Bitcoin is a revolution ,its a decentralize entity ,no organisation can stop it .Cryptocurrency is a threat to banking system so they are implementing different kind of restriction for their own sake.They are trying different ways to make people stop in dealing with cryptocuurency.But we citizens know the power of decentralization and cryptocurrnecy so it is not goin anywhere cryptocurrency is here to stay.it has giant scope in future.
There is nothing to be panic of .there are different ways to cash out the cryptocurrency.