Supreme Court sets aside RBI ban on cryptocurrency transactions
4 years, 10 months ago

Supreme Court sets aside RBI ban on cryptocurrency transactions

The Hindu  

The Supreme Court on March 4 set aside an April 6, 2018, circular of the Reserve Bank of India prohibiting banks and entities regulated by it from providing services in relation to virtual currencies. “Till date, RBI has not come out with a stand that any of the entities regulated by it namely, nationalised banks/scheduled commercial banks/cooperative banks/NBFCs, have suffered any loss or adverse effect directly or indirectly, on account of VC exchanges,” a Bench comprising Justices Rohinton Nariman, Aniruddha Bose and V. Ramasubramanian observed in a 180-page judgment. Justice Ramasubramanian, who authored the ruling, found the RBI circular “disproportionate” with an otherwise consistent stand taken by the central bank that VCs were not prohibited in the country. Again, the April circular was issued despite the fact that the central bank could not quote a single instance when VC exchanges “actually impacted entities regulated by RBI”. From a permissive draft bill, the Inter-Ministerial Committee went on to recommend a “total ban” on private cryptocurrencies through a proposed legislation called ‘Banning of Cryptocurrency and Regulation of Official Digital Currency Act’ in February 2019.

Supreme Court Court Digital Currency Committee Rbi Ban Circular Vcs Justice Ramasubramanian Vc Exchanges  sets  circular  central  rbi  supreme  official  aside  cryptocurrency  currency  ramasubramanian  transactions  committee  digital  court  ban  vcs

History of this topic

RBI’s Digital Rupee: Google, PhonePe, Amazon Pay, Cred, and Mobikwik To join digital currency pilot project
5 months ago

RBI’s Digital Rupee: Google, PhonePe, Amazon Pay, Cred, and Mobikwik To join digital currency pilot project

The Hindu  

Google, PhonePe, Amazon Pay, Cred and Mobikwik are looking to join Indian central bank’s digital currency project by offering transactions in e-rupee, a digital alternative to the physical currency. The news comes as transactions using the digital currency reached over a million a day last year, however, they have declined ever since, to about 100,000-200,000 a day. However, in April …

‘For our satisfaction’: SC orders Centre, RBI to produce demonatisation files
2 years, 1 month ago

‘For our satisfaction’: SC orders Centre, RBI to produce demonatisation files

Hindustan Times  

The Supreme Court on Wednesday directed the ministry of finance and the Reserve Bank of India to produce files pertaining to the government’s November 2016 decision to outlaw currency notes of ₹500 and ₹1,000. The bench also told the government’s top law officer Attorney General R Venkatramani that it wanted to examine the “relevant records” of RBI and Centre. Chidambaram …

Supreme Court directs Centre, RBI to submit records behind demonetisation decision
2 years, 1 month ago

Supreme Court directs Centre, RBI to submit records behind demonetisation decision

The Hindu  

The Supreme Court on December 7 directed the Centre and the RBI to place on record the “relevant records” relating to the government’s 2016 decision to demonetise currency notes of ₹1,000 and ₹500 denomination for its perusal. Reserving its verdict on a batch of pleas challenging the Centre’s decision, a five-judge Constitution Bench headed by Justice S.A. Nazeer heard the …

Explained | Why has the Reserve Bank of India introduced an e-rupee?
2 years, 1 month ago

Explained | Why has the Reserve Bank of India introduced an e-rupee?

The Hindu  

The story so far: The Reserve Bank of India this week launched the digital rupee on a pilot basis. The digital rupee, or the e-rupee, is a central bank digital currency issued by the RBI. The introduction of central bank digital currencies internationally has worried many who believe that it could disrupt the banking system. A rise in the use …

How the RBI's digital currency can help economy
2 years, 1 month ago

How the RBI's digital currency can help economy

Live Mint  

Readers of a certain age group might remember Ramon Bonus Stamps. What's driving FIIs’ bullish bets on Nifty IIT-K student hits record ₹4 cr placement jackpot Story takes a turn for PVR, Inox Leisure after a flop Q2 How young Indian couples budget for their weddings Imagine different currencies competing for dominance in usage without any sovereign backing. That is …

Judicial Service Examination: Questions With Explanatory Answers Based On Latest Supreme Court Judgments
2 years, 1 month ago

Judicial Service Examination: Questions With Explanatory Answers Based On Latest Supreme Court Judgments

Live Law  

Which of the following is true with respect to the decision in the 2020 judgment of Tofan Singh v. State of Tamil Nadu? a. NDPS officers are not police officers since they do not file any charge-sheet b. NDPS officers are police officers but confessional statements recorded by them are admissible c. NDPS officers are police officers and therefore confessional …

RBI Should Consider Genuine Applications To Exchange Demonetised Notes Of Persons Who Missed Deadline, Says Supreme Court During Hearing
2 years, 1 month ago

RBI Should Consider Genuine Applications To Exchange Demonetised Notes Of Persons Who Missed Deadline, Says Supreme Court During Hearing

Live Law  

During the hearing of the pleas challenging demonetisation, the Supreme Court on Friday orally said that the Reserve Bank of India should consider the genuine applications made by persons who missed the deadline for exchanging the demonetised currency notes. Speaking about the "700 odd applications" received by the Reserve Bank to credit the value of demonetised notes after the expiry …

Central Bank Digital Currency is going to be a major transformation in the way business is done: RBI Governor Shaktikanta Das
2 years, 2 months ago

Central Bank Digital Currency is going to be a major transformation in the way business is done: RBI Governor Shaktikanta Das

The Hindu  

Reserve Bank of India Governor Shaktikanta Das said Central Bank Digital Currency is going to be a major transformation in the way business is done — the way transactions are conducted and highlighted that RBI is among the very few central banks in the world which have taken this initiative. While addressing FIBAC on November 2, Governor Shaktikanta Das said, …

RBI to soon launch e-rupee on pilot basis for limited use
2 years, 3 months ago

RBI to soon launch e-rupee on pilot basis for limited use

India TV News  

Digital money : The Reserve Bank on Friday said it will soon commence the pilot launch of the e-rupee for specific use cases as it tests digital currency in India. "As the extent and scope of such pilot launches expand, RBI will continue to communicate about the specific features and benefits of e-rupee, from time to time," the central bank …

Cryptocurrencies clear danger, says RBI Governor
2 years, 6 months ago

Cryptocurrencies clear danger, says RBI Governor

The Hindu  

The government is in the process of finalising a consultation paper on cryptocurrencies after gathering inputs from various stakeholders and institutions. In the foreword to the 25th issue of the Financial Stability Report released on Thursday, Das also said that as the financial system gets increasingly digitalised, cyber risks are growing and need special attention. In the foreword of the …

Cryptocurrency to be banned in India? What we know so far
2 years, 10 months ago

Cryptocurrency to be banned in India? What we know so far

India Today  

The question over the legality of cryptocurrencies in India has garnered eyeballs, especially after the government's move to tax virtual digital assets. Apart from providing clarity on taxation on virtual digital assets, Union Finance Minister Nirmala Sitharaman and top officials of the government have given statements on the future of cryptocurrency in the country. The proposed bill TAXATION ON VIRTUAL …

30% tax on cryptocurrency: India’s plunge in the realm of digital currency
2 years, 11 months ago

30% tax on cryptocurrency: India’s plunge in the realm of digital currency

Op India  

The exponential growth of the cryptocurrency in India was just a phenomenon until it was given a considerable attention by the government. Taking a conservative stand on the taxation of digital currency, Finance Minister Nirmala Sitharaman on Tuesday announced that government would earn 30% behind every penny of profit earned by way of transfer of virtual money. The launch of …

Regulation, not ban: on cryptocurrencies
3 years, 1 month ago

Regulation, not ban: on cryptocurrencies

The Hindu  

Eight years after the RBI issued its first advisory cautioning holders of virtual currencies about the potential financial and security risks, and two years after drafting a Bill to ban cryptocurrencies, the Government is set to introduce legislation that would, if passed, officially proscribe such currencies. Prime Minister Narendra Modi had in a video address to the Sydney Dialogue earlier …

We don't track crypto trading: Finance Ministry
3 years, 1 month ago

We don't track crypto trading: Finance Ministry

The Hindu  

The government doesn’t collect information on cryptocurrency or Bitcoin transactions in the country and has no plans to recognise Bitcoin as a currency, the Finance Ministry told Parliament on Monday. “RBI has been examining use cases and working out a phased implementation strategy for introduction of CBDC with little or no disruption,” the Minister said, adding that an official digital …

RBI Wants To Enhance Scope Of Digital Currency Under Definition Of Bank Note, Proposes Amendment To Law
3 years, 1 month ago

RBI Wants To Enhance Scope Of Digital Currency Under Definition Of Bank Note, Proposes Amendment To Law

ABP News  

New Delhi: The central government on Monday informed Parliament that it has received a proposal from the Reserve Bank of India last month to enhance the scope of digital currency under the definition of ‘bank note’. The RBI had introduced the proposal of Central Bank Digital Currency in October seeking to amend the Reserve Bank of India Act, 1934. On …

Is A Blanket Ban Possible On Cryptocurrency In India? Know How It May Impact
3 years, 1 month ago

Is A Blanket Ban Possible On Cryptocurrency In India? Know How It May Impact

ABP News  

New Delhi: Everyone speculating a ban on cryptocurrencies in India may take it easy as the government is set to introduce a Bill in the upcoming winter session of Parliament which, if passed, will only ban the ‘private’ digital currencies. Investors trading in Bitcoin, Ethereum, and the likes may not be worried because these are public blockchain-based cryptocurrencies, which offer …

Cryptocurrency Bill: All You Need to Know About Private Crypto That Govt Seeks to Ban
3 years, 1 month ago

Cryptocurrency Bill: All You Need to Know About Private Crypto That Govt Seeks to Ban

News 18  

The central government earlier this week officially expressed its intention to introduce a Bill aimed at prohibiting private cryptocurrencies in India. The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 seeks to prohibit all private cryptocurrency. The much-anticipated cryptocurrency Bill will probably ban all private cryptocurrencies in India, but this will not be a blanket ban as per sources. …

Reserve Bank Set To Roll Out India’s Own Cryptocurrency. Know What Is CBDC
3 years, 1 month ago

Reserve Bank Set To Roll Out India’s Own Cryptocurrency. Know What Is CBDC

ABP News  

New Delhi: The Centre is all set to introduce a new Bill during the winter session of Parliament to ban private cryptocurrencies and create guidelines for a legal digital currency by the Reserve Bank of India, according to a Lok Sabha bulletin released on Tuesday. To create a facilitative framework for creation of the official digital currency to be issued …

Cryptocurrency Curbs in India: How Other Nations are Treading the Digital Currency Path
3 years, 1 month ago

Cryptocurrency Curbs in India: How Other Nations are Treading the Digital Currency Path

News 18  

India is all set to bring in new rules to regulate cryptocurrency as the Union government plans to introduce a Bill to ban all private cryptocurrencies in the upcoming winter session of Parliament. As per the Lok Sabha Bulletin released on Tuesday, the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 seeks to create a facilitative framework for the …

Proposed bill on Cryptocurrencies may Prohibit Private Crypto but RBI may have Power to Give Exemption
3 years, 1 month ago

Proposed bill on Cryptocurrencies may Prohibit Private Crypto but RBI may have Power to Give Exemption

News 18  

Proposed bill on cryptocurrencies likely to have the provision to prohibit all private cryptocurrencies but Reserve Bank of India may get the power to give exemption and issuing a digital rupee, according the top sources. According to the sources proposed bill — The Cryptocurrency and Regulation of official Digital Currency Bill, 2021-may have the provision under which “”No person shall …

Union Budget 2022: The Rise of RBI-backed Digital Rupee and Stablecoins
3 years, 1 month ago

Union Budget 2022: The Rise of RBI-backed Digital Rupee and Stablecoins

News 18  

For several months, my stand on cryptocurrencies, assets, and exchanges has been unambiguous and unwavering — that they should be banned outright, without further ado or delay; instead, a comprehensive regulatory framework should be built around the Central Bank Digital Currency. Finance Minister Nirmala Sitharaman in her Budget speech announced that India’s very own digital rupee backed by blockchain technology …

EXPLAINED: Where India Stands On Cryptocurrencies, What New Bill Will Mean For Bitcoin And Company
3 years, 1 month ago

EXPLAINED: Where India Stands On Cryptocurrencies, What New Bill Will Mean For Bitcoin And Company

News 18  

Another of the notorious price swings cryptocurrencies are known for was underway amid news that the Centre is set to introduce a Bill in Parliament that seeks to crack down on these unregulated assets in India, which has one of the largest crypto-ownership bases in the world. Reports suggest that the cryptocurrency Bill missed out on introduction in Parliament during …

What if India bans circulation of cryptocurrency? What Zerodha founder says
3 years, 1 month ago

What if India bans circulation of cryptocurrency? What Zerodha founder says

Live Mint  

Amid concerns over cryptocurrency, the government is set to introduce “The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021" in the winter session of Parliament beginning 29 November for consideration and passing. Zerodha co-founder Nikhil Kamath took to Twitter to enquire about what will happen to cryptocurrency in circulation if the govt decides to ban it. A 100 years …

What is cryptocurrency row all about as India heads to have a law?
3 years, 1 month ago

What is cryptocurrency row all about as India heads to have a law?

India Today  

The world of money is changing with a strong push for private currency in the form of cryptocurrency. India’s is one such government that is bringing a law to regulate cryptocurrency, which is till date unregulated in the country with a growing investment in this form of currency. This is a whole new world of currency, much different from the …

Centre to introduce cryptocurrency bill among 26 legislations in Parliament's Winter Session
3 years, 1 month ago

Centre to introduce cryptocurrency bill among 26 legislations in Parliament's Winter Session

Firstpost  

The Cryptocurrency & Regulation of Official Digital Currency Bill 2021 seeks to create a facilitative framework for creation of official digital currency to be issued by the Reserve Bank of India The Cryptocurrency and Regulation of Official Digital Currency Bill 2021- the official bill to regulate the digital currency will be introduced in the Parliament during the winter session that …

Centre To Introduce Bill To Ban Private Cryptocurrencies In India & Create Official Digital Currency
3 years, 1 month ago

Centre To Introduce Bill To Ban Private Cryptocurrencies In India & Create Official Digital Currency

Live Law  

The Central Government has proposed to introduce the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 in the upcoming winter session of Parliament. The Bill The Central Government has proposed to introduce the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 in the upcoming winter session of Parliament. "When the consistent stand of RBI is that they have …

Madhya Pradesh High Court Stays RBI Circular On Urban Cooperative Banks
3 years, 4 months ago

Madhya Pradesh High Court Stays RBI Circular On Urban Cooperative Banks

Live Law  

The Madhya Pradesh High Court has stayed a circular issued by the Reserve Bank of India on June 25 which laid down several conditions related to Urban Coopeartive Banks.A division bench comprising Chief Justice Mohammad Rafiq and Justice Vijay Kumar Shukla passed the interim order on September 3 while issuing notice on a writ petition filed by Mahanagar Nagrik Sahkari …

RBI May Consider Trials For Digital Rupee By December, Says Governor Shaktikanta Das
3 years, 4 months ago

RBI May Consider Trials For Digital Rupee By December, Says Governor Shaktikanta Das

ABP News  

New Delhi: In its attempt to implement digital currency, the Reserve Bank of India has been working on a phased implementation strategy and the pilot may be expected by the end of this year. In an interview with CNBC, RBI Governor Shaktikanta Das said, “The Reserve Bank of India may launch its first digital currency trial programs by December." Das …

India's Crypto Quandary
3 years, 5 months ago

India's Crypto Quandary

Live Law  

The recent boom in the cryptocurrency industry worldwide has encouraged countries to evolve the legal landscape that governs virtual currencies. However, a new bill titled 'The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021' that reaffirms the ban, is ready to be tabled in the monsoon session of the Parliament. A rundown of crypto related concerns Considering that India …

Money changer: The Hindu Editorial on need for an official digital currency
3 years, 5 months ago

Money changer: The Hindu Editorial on need for an official digital currency

The Hindu  

In contrast to India’s continued ambiguity over the legality of cryptocurrencies, its stance on introducing an official digital currency has been reassuringly clear and consistent over time. In a speech a few days ago, T. Rabi Sankar, Deputy Governor, RBI, said, “RBI is currently working towards a phased implementation strategy and examining use cases which could be implemented with little …

Digital Currency to Soon Become Reality in India: RBI Working on 'Phased Introduction'
3 years, 5 months ago

Digital Currency to Soon Become Reality in India: RBI Working on 'Phased Introduction'

News 18  

The Reserve Bank of India, is moving towards bringing in Central Bank Digital Currency. He went on to add that the central bank is framing considerations for the legal framework to be put into place so that the CBDC can coexist with cash and digital payment methods in India. Having said that, it is important to note what exactly the …

RBI Contemplating Pilot Launch of Digital Currency in Near Future: Deputy Guv
3 years, 5 months ago

RBI Contemplating Pilot Launch of Digital Currency in Near Future: Deputy Guv

News 18  

The Reserve Bank is working on a phased implementation strategy for its own digital currency and is in the process of launching it in wholesale and retail segments in the near future, RBI Deputy Governor T Rabi Sankar said on Thursday. “Like other central banks, RBI has also been exploring the pros and cons of introduction of CBDC since quite …

As Centre readies cryptocurrency bill for Parliament's Monsoon Session, here's what you need to know
3 years, 5 months ago

As Centre readies cryptocurrency bill for Parliament's Monsoon Session, here's what you need to know

Firstpost  

The government has talked about banning all cryptocurrencies in India but that has not stopped millions of Indians from trading in the digital asset After narrowly missing out on being tabled in the Budget Session of Parliament earlier this year, the cryptocurrency bill is reportedly ready for being taken up for debate during the upcoming Monsoon Session. In a bulletin …

EXPLAINED: As Cryptocurrency Bill Hangs Fire, Here's What You Need To Know About Its Fortunes In Indian
3 years, 5 months ago

EXPLAINED: As Cryptocurrency Bill Hangs Fire, Here's What You Need To Know About Its Fortunes In Indian

News 18  

After narrowly missing out on being tabled in the Budget Session of Parliament earlier this year, the cryptocurrency Bill seems to be left out in the cold again as the Union government has reportedly not listed it for being taken up for debate during the upcoming Monsoon session. In a bulletin for the Budget Session prepared by the Lok Sabha …

Why India Has A Love-Hate Relationship With Cryptocurrency
3 years, 7 months ago

Why India Has A Love-Hate Relationship With Cryptocurrency

News 18  

The value of one Bitcoin, the first and the largest cryptocurrency, is hovering around Rs 27 lakh. In March last year, the Supreme Court had struck down a 2018 circular by the Reserve Bank of India to banks and financial institutions saying they should desist from facilitating transactions involving cryptocurrencies. “In view of the order of the Hon’ble Supreme Court, …

Future of cryptocurrency in India continues to hang in the balance
3 years, 7 months ago

Future of cryptocurrency in India continues to hang in the balance

The Hindu  

June 02, 2021 10:30 am | Updated June 03, 2021 12:48 pm IST The Reserve Bank of India on May 31 asked banks not to cite its 2018 order as a reason to deny banking services to customers who dealt in cryptocurrencies. In April 2018, the RBI issued a circular instructing banks to make sure customers dealing in cryptocurrencies were …

RBI Circular on Cryptocurrency Clarifies No Ban in India: Will UPI, Online Payments Return?
3 years, 7 months ago

RBI Circular on Cryptocurrency Clarifies No Ban in India: Will UPI, Online Payments Return?

News 18  

Yesterday, on May 31, the Reserve Bank of India issued a circular that offered some clarification towards the official state of cryptocurrencies in India. After widespread reports claimed that both private and public sector banks have been actively advising users against investing in cryptocurrencies, while withdrawing payment support for Indian crypto trading platforms, the RBI circular underlined that banks can …

Banks can no longer cite RBI note to throttle crypto
3 years, 7 months ago

Banks can no longer cite RBI note to throttle crypto

Live Mint  

The Reserve Bank of India on Monday clarified that its 2018 order directing lenders to stop dealing in virtual currencies was quashed by the Supreme Court in March last year and can’t be cited by banks to deny services to people dealing in cryptocurrencies. The clarification came after lenders such as HDFC Bank Ltd and State Bank of India cautioned …

What India’s proposed cryptocurrency ban means for Bitcoin investors
3 years, 8 months ago

What India’s proposed cryptocurrency ban means for Bitcoin investors

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. However, while banning private digital currencies, the country’s central …

Don't miss the cryptocurrency boat, experts say on India's proposed regulations
3 years, 10 months ago

Don't miss the cryptocurrency boat, experts say on India's proposed regulations

India Today  

India’s cryptocurrency investors are staring at a new set of regulations that may stifle the trading and existence of global cryptocurrencies in the country. The government plans to introduce a bill — The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 — in Parliament to ban companies and individuals from trading in cryptocurrencies. Bought some Dogecoin for lil X, …

Explained: Is RBI Governor's concern about cryptocurrency justified?
3 years, 10 months ago

Explained: Is RBI Governor's concern about cryptocurrency justified?

India Today  

Reserve Bank of India Governor Shaktikanta Das recently expressed concern about the use of cryptocurrencies. The judgement did provide relief, but several cryptocurrency exchanges have called for better regulation of digital currency trade to fix current issues. Now, the government is planning to introduce a bill — Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 — in Parliament to …

RBI has 'major concerns' over cryptocurrencies: Governor Shaktikanta Das
3 years, 10 months ago

RBI has 'major concerns' over cryptocurrencies: Governor Shaktikanta Das

India Today  

The Reserve Bank of India has “major concerns” about cryptocurrencies, Governor Shaktikanta Das said on Wednesday, flagging potential risks to financial stability. “We have major concerns from the financial stability angle,” Das told news channel CNBC-TV18 in an interview, adding that the RBI was “targeting to launch” a digital currency. “In order to ensure that there is financial stability we …

Is India going to ban Bitcoin? Here is story so far
3 years, 11 months ago

Is India going to ban Bitcoin? Here is story so far

India Today  

The Indian government is closer than ever to impose a blanket ban on crypto-currency trading, mining and investments in the country. A bill for the same has already been proposed and on Tuesday, Finance Minister Nirmala Sitharaman said in the Rajya Sabha that a high-level Inter-Ministerial Committee has been constituted under the Chairmanship of Secretary to study the issues related …

India proposes law to ban cryptocurrencies, create official digital currency
3 years, 11 months ago

India proposes law to ban cryptocurrencies, create official digital currency

The Hindu  

The Centre plans to introduce a law to ban private cryptocurrencies such as bitcoin and put in place a framework for an official digital currency to be issued by the central bank, according to a legislative agenda listed by the government. The law will "create a facilitative framework for creation of the official digital currency to be issued by the …

Budget Session to See Bill Banning Bitcoin in India, May Make Way for Digital Currency Issued by RBI
3 years, 11 months ago

Budget Session to See Bill Banning Bitcoin in India, May Make Way for Digital Currency Issued by RBI

News 18  

The budget session of Parliament is all set to introduce a new bill that bans private cryptocurrencies and provides for an official digital currency to be issued by the Reserve Bank of India. The Union Budget, which will be presented on February 1, is looking towards the introduction, consideration, and passing of the Cryptocurrency and Regulation of Official Digital Currency …

RBI plans its own cryptocurrency, proposed crypto law may ban Bitcoins and Dogecoins in India
3 years, 11 months ago

RBI plans its own cryptocurrency, proposed crypto law may ban Bitcoins and Dogecoins in India

India Today  

The government is likely to introduce a bill during Budget session 2021 that would ban private cryptocurrencies, including Bitcoin. The government aims to introduce an official digital currency that would be directly issued by the Reserve Bank of India. “To create a facilitative framework for creating the official digital currency to be issued by the Reserve Bank of India. Reacting …

Delhi High Court Seeks Reply From RBI, SEBI, NPCI On Plea Seeking Regulation Of GooglePay, AmazonPay, PhonePe Etc
4 years, 1 month ago

Delhi High Court Seeks Reply From RBI, SEBI, NPCI On Plea Seeking Regulation Of GooglePay, AmazonPay, PhonePe Etc

Live Law  

The Delhi High Court on Wednesday sought reply from the Ministry of Law, Finance Ministry, RBI, SEBI, and National Payments Corporation of India on a public interest litigation seeking regulation of the entry and operations of "tec-fin" companies like GooglePay, AmazonPay, PhonePe and others. The petition, which has been filed by an applied economist, Reshmi P Bhaskaran, seeks the High …

RBI's Intention Is To Maintain Status Quo On Account Classification As On March 1 During Moratorium Period : Delhi HC [Read Order]
4 years, 8 months ago

RBI's Intention Is To Maintain Status Quo On Account Classification As On March 1 During Moratorium Period : Delhi HC [Read Order]

Live Law  

The Delhi High Court has provided interim relief to an account from being declared a Non Performing Asset by the Punjab & Sind Bank, in light of the moratorium allowed by the RBI by its circular issued on March 27. While passing the interim order, the bench expressed agreement with the view expressed by another bench in the case Ananth …

Analysis Of Supreme Court's Cryptocurrency Judgment
4 years, 9 months ago

Analysis Of Supreme Court's Cryptocurrency Judgment

Live Law  

On 31 October 2008, Satoshi Nakamoto, a presumed pseudonymous person, presented a paper titled "Bitcoin: A Peer-to-Peer Electronic Cash System". In 2013, the RBI first began to take stock of the proliferation of these currencies, and in June that year it released a Financial Stability Report in which it defined VCs as "a type of unregulated digital money, issued and …

What does the Supreme Court order reinstating virtual currency activities mean?
4 years, 10 months ago

What does the Supreme Court order reinstating virtual currency activities mean?

The Hindu  

The story so far: On Wednesday, March 4, a three-judge Bench of the Supreme Court of India struck down a 2018 circular of the Reserve Bank of India, which sought to prevent banks and institutions from dealing in “virtual currencies” — also referred to as cryptocurrencies, an example being Bitcoin — and providing services to those engaged in trading in …

Discover Related