A few more delays have ensured that the case gets pushed forward to the 15th of October. RBI seems to have responded in detail to IAMAI and we'll know more when the proceedings continue.
It's a pity that world over some incredible things are shaping up and our government is far from recognising the legitimacy of decentralised blockchains and cryptocurrencies.
Nevertheless, we must not give up hope and continue pushing for fair regulations that allows us to continue our work in this space.
This is a quick update on the matter and I hope there will be more to share and discuss once the court resumes hearing. There were quite a few delays from 25th Sept onwards and hence no new updates on the matter until now.
I'm hoping the counsel for IAMAI will be able to convince the judges to somehow revoke the circular banning banks from rendering banking services to exchanges.
Also, hopeful for a change in the draft ban bill before it gets tabled in the parliament although the chances of this taking place is extremely low.
Let's see how it goes on from here.