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Supreme Court asks RBI to justify crypto ban within 2 weeks


Supreme court has pushed RBI over its handling of a cryptocurrency business ban and has ordered it to address complaints within 14 days in the latest hearing. Calling RBI’s actions unlawful, IAMAI stated that India’s consumer protection and AML laws can be applied to virtual currencies, rather than banning them.

Subsequently, RBI counsel which has agreed to the deadline believes that the cryptocurrencies involve the biggest fear of being used as a means of payment. (Source)

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