India once had one of the most active cryptocurrency communities, but was later shaken by the country's central bank the RBI, in April. With a circular issued on April 6, the RBI prohibited banks in the country from providing services to any individual or institution associated with crypto-currencies, and the prohibition entered into force in the summer of 2018.
The decision attracted a lot of reaction and the social community organizations within India - basically the Indian Internet and Mobile Association - objected to the situation and brought the case to the court. When the decision of the district court did not come to a conclusion, those who reacted to the verdict received their breath at the Supreme Court of India.
The Supreme Court postponed the case and postponed the last decision, the next hearing will be held at the end of February said. Lawyer Jaideep Reddy, who spoke as a spokesman for RBI, said the circular was unconstitutional, and the next case would decide whether the court is unconstitutional or not.
At the moment, there are five lawsuits against RBI Reddy, 3 of these RBI published by the circular of the objection-oriented, two of them stressed that the general is related to crypto-money regulation. Apparently, the decision to be made in February will be final and the names representing the crypto money sector are hopeful for the outcome.
February of 2019 certainly expects too much development. The latest release date of the recently released Bitcoin ETF, Ethereum's new history of hard fork, is on the agenda as the date on which Bakkt will be released, with the decision of the Supreme Court of India.