Cryptocurrency and India appear with more uncertain topics every time –but this time, the case is quite different. As per the latest report, the Union Government of India has got the final four weeks of time from the Supreme court of India to share the ‘regulations around cryptocurrency in India’.
The uniqueness of this update is that – If in case the regulations remain unheard from the Union Govt within a four-week span, the Supreme court itself would come forth and finalize the case.
While every hearing has nothing more than ‘just DATES’, today’s hearing i.e on Feb 25, 2019, is hopefully the final version of it. Today’s case, fortunately, heard under ‘miscellaneous cases’ on the 53rd position on Monday that they were expected it to address on Tuesday or Wednesday under normal cases.
As for now – the crypto community in India is expecting positive headlines from Government after four weeks (possibly 25th March – considering four weeks from 25th Feb). However, if not from Govt, the optimistic hopes remain around Supreme court hearing very soon.
To note, India has banned banks to participate in crypto affairs thus making it difficult for crypto enthusiasts in India to trade, invest or withdraw their money on cryptocurrency exchanges. With this, it’s quite important to note that only peer to peer exchanges are the way for Indians to participate in crypto activities.
What do you think about the possible ‘policy decision’ by Indian Govt? Will, there be clear regulations this time or the dates will usually forward? Share your opinion with us.