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The D-Day: Supreme Court of India Set to Hear Cryptocurrency Petitions Today (Updating)

January 15, 2019 11:47

The Supreme Court of India is set to hear the case of cryptocurrencies today, and all eyes of the community are set on the hearing. We’re also keeping an eye, and will be bringing you all the updates as they come to our knowledge.

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Update as on 17/01/2019 :  It’s yet another “tareekh” (date), but this time with some information that will give us the sigh of relief. Since the matter wasn’t being reached according to current schedule, Senior Advocates appearing for both parties were not present. The matter has now been scheduled for hearing on 26th of February, and this time it will be on the “top of the board” (i.e. item number #1 in the Cause List). SC has allowed that, which means now it’s highly likely to be heard on the last Tuesday of February. The Court is likely to review the petition filed by the Government on that day.

 

When Supreme Court had adjourned the hearing of cryptocurrency related petitions back in November, it was quite a setback for the entire crypto community. Nevertheless, time stops for no one and the day that SC had decided in this year to hear the matter again has finally arrived. The case of cryptocurrencies is set to be heard in the apex court today, and we’re on the watch-out along with our friends at Crypto Kanoon. The reply of Government is also in Court, though it was filed after the passage of due date.

To recall, Ministry of Finance had in its reply to Court only told about the minutes of internal meetings that happened to discuss crypto regulation. No timeline had been provided by the government disclosing how long will it take to put crypto regulations in place, something which had been asked explicitly by the Court. Therefore, it will be interesting to see what happens in the SC today. The first and foremost challenge will be to see if the matter is heard at all, as we’ve seen previously that it didn’t even come up for hearing on several dates. It looks like cryptocurrencies sit quite lower in the priorities of SC as of now.

Nevertheless, we’ll be bringing you every update related to the hearing as it comes to our knowledge, so please bookmark this page and keep checking it back.

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