Supreme Court has finally heard the matter earlier today however it seems like this will be a long drawn out battle between the petitioners and the central bank of India.
Counsel representing the Union of India has informed the court today that a committee is coming up with a report on cryptocurrency. This probably refers to the Subash Garg committee that has been working on a report on cryptocurrencies for months now.
The Apex Court has now directed the government of India to file a counter affidavit within two and weeks and a new date will be listed by the government after 2 weeks.
It's quite likely that the validity of the report will be challenged in court when it's published and after it's submitted to the court. Ofcourse, we're likely to see more adjournments and new dates after two weeks is over.
Nevertheless this is the update on the situation as it unfolds.
I've also written about Unocoin co-founder's arrest here. Be sure to read that as well.
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Thank you for the updates
Hope it will be positive and not too late to prevent tech drain
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Waiting for a positive response.
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Reminds me of 'Tarik pe tarik' from one of your previous posts. Probably we can add that as default footer for posts regarding Supreme court :P
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Good point. hahaha :D
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I do not think they will come up with something before the General Election next year. As always we will get Tarik pe Tarik...
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Wish to hear a positive response
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Not so soon, it will take time. Probably not until the next election.
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Firepower sir, Aasha Karti Ho ki Nainaya Sahi
hi aayega Agli tarikha Ka intjar rhega.
Update share karne ke liye bahut bahut dhanyavad.
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Thanks. Would be easier for everyone to read your responses if it were in English. :)
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Okey sir, thanks for attention.
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Thanks for the summarised update. We have built, immersed and accepted our judiciary system. Filing a counter affidavit and buying time more than what it is realistic, court still provisions. Good to know something moving forward and wish the courts soon can draw a distinct lines in the case
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Hope the result will be positive and waiting for it,thanks for the update sir.
Fingers crossed.
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What 20 points are you talking about? Seems like you're pasting an older reply to a completely different post.
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Government is wrong decision for cryptocurrency Crypto Ban is not right decision
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Hope good news comes out of court hearing. Thank for the info.
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Thanks for the update..
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You planned and spent your time wisely. Of all the points you mentioned, I really appreciate the part thank you sir
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This is like an infinite loop.
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Courtception!
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Finally as if we are moving in the right path,though we are not getting any feedback,but it seems that sp will be proceed with the proper plan and with the proper knowledge.So I think ,everything will be alright in the future.Thanks for the updates dear,good day.
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It is really very frustrating the court should come up with the verdict as soon as possible so that more people could enter the future of currency.
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@firepower, In my opinion this particular case can turn into an Long Running Marathon and we have to hold patience too. Most importantly we have to look into World aspect because we are watching that some giants are planning to enter into the Crypto Sphere, so in my opinion we can expect Institutional Investors soon and if Institutional Investors enters into the Crypto Sphere then their will be an race of Investments. So for sure if Globally Crypto will receive the needed Recognition then India will also showcase the Interest in Blockchain Technology and Cryptocurrency Sphere. But whatever the decision is, we have to stay with the Revolutionary Crypto Path because it is Financial Freedom. Great to see that you are closely watching everything brother. Keep up.
Wishing you an great day and stay blessed. 🙂
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This in India..
And in Japan...
Crypto firms allowed to Self Regulate.
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