The Supreme Court of India has delayed a hearing on a possible ban of cryptocurrencies until November 19th, 2019.
According to a local news outlet Crypto Kanoon, the court shifted the hearing from November 12th to Nov. 19th.
Earlier iHodl reported that the country’s government is conducting a series of consultations among its ministries on the bill, known as “Banning of Cryptocurrencies and Regulation of Official Digital Currencies Bill 2019”.
#Correction:#Crypto v. #RBI case update:— Crypto Kanoon (@cryptokanoon) October 16, 2019
The date of next hearing was fixed and verbally communicated by the Judge as 12th November.
But since 12th November is a holiday as per the Supreme Court calender, so the next date has been extended to 19th November 2019. pic.twitter.com/JvOalItouw
The idea of a complete ban includes the sale, purchase, and issuance of all types of cryptocurrencies. The main crypto opponent is government agencies, including the Department of Economic Affairs (DEA), the Central Board of Direct Taxes (CBDT), the Central Board of Indirect Taxes and Customs (CBIC) and the Investor Education and Protection Fund Authority (IEPFA).
The whole situation with cryptocurrency in India leaves much to be desired. For example, in Summer this year, one of India’s largest cryptocurrency exchange operators, Koinex, announced closure due to regulatory uncertainty.