Indian Supreme Court adjourned cryptocurrency ban hearing in country

The Supreme Court of India postponed a hearing on the revision of the ban on servicing cryptocurrency companies in the country, which was introduced in April this year. The next hearing will be on November 19th.

Recall that in April this year, the Reserve Bank of India (RBI) banned
banks and financial institutions to provide services to companies working with cryptocurrencies. The Delhi High Court then criticized the Central Bank of the country, and the Supreme Court upheld the criticism, saying in August that this decision should be worked out and it was necessary to review it.

Note that initially the Supreme Court of India adjourned the hearing to November 12, but during this period, national holidays are held in India, so the deadline was shifted for another week, until November 19.

In connection with the ban on servicing cryptocurrency companies, there are even curious situations in India – the police, having confiscated $ 1.2 million in bitcoins, lost access to funds, as the bank blocked the account.

It is possible that in the near future in India they will generally prohibit the use of cryptocurrencies, and companies and individuals who continue to work with digital assets may be sued.