The government of India has told the country’s supreme court that the committee tasked with drafting crypto regulation is in the final stages of deliberations. The court plans to hear the petitions against the banking ban by the central bank after the government produces crypto regulation.

Also read: Indian Supreme Court Gives Government 4 Weeks to Produce Crypto Regulation

Crypto Regulation in Final Stages

The Indian supreme court briefly heard the crypto case on Monday. Lawyer Jaideep Reddy of Nishith Desai Associates was at the court representing the Internet and Mobile Association of India (IAMAI) in its writ petition against the crypto banking ban by the central bank, the Reserve Bank of India (RBI). He told news.Bitcoin.com on Friday that “The matter was heard for a very short period of time,” elaborating:

The matter started with the counsel for the Union of India stating that its committee is in the final stages of deliberations and that the matter should be heard after that.

Indian Government Confirms Cryptocurrency Regulation in Final Stages

After hearing the…

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Source: https://news.bitcoin.com/indian-government-confirms-cryptocurrency-regulation-final-stages/