India’s supreme court spent all day hearing arguments against the crypto banking ban by the Reserve Bank of India (RBI) on Wednesday. The counsel for the Internet and Mobile Association of India presented extensive arguments to convince the court that the central bank acted outside its jurisdiction and power in placing a banking restriction on the crypto industry.
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Supreme Court Resumes Hearing Crypto Case
The Supreme Court of India resumed hearing the crypto vs. RBI case this week. On Tuesday, the court briefly heard the case as scheduled. The counsel for the Internet and Mobile Association of India (IAMAI), Ashim Sood, recapped the arguments he presented last year, starting with the basics of cryptocurrency and blockchain technology.
The hearing resumed all day on Wednesday. In addition to providing a recap of the arguments previously made, local news outlet Coin Crunch India reported that Sood began by reading out the guidelines issued by…