The four-week window that the Indian supreme court has given the government to come up with crypto regulation is coming to an end. According to the court’s Advance List, the crypto case is listed for March 29. Meanwhile, the community is ramping up efforts to bring about positive crypto regulation and the end of the banking ban imposed by the central bank.
Advance List Shows Hearing Date: March 29
The deadline given to the Indian government by the country’s supreme court to come up with the regulatory framework for cryptocurrency is drawing near. On Feb. 25, the court gave the government four weeks to produce crypto regulation. That period is up next week. Nishith Desai Associates lawyer Jaideep Reddy represents the Internet and Mobile Association of India (IAMAI) in its writ petition against the crypto banking ban by the central bank. He told news.Bitcoin.com Saturday:
The supreme court publishes something called the ‘Advance List’ and according to that, the case is listed on March 29. The final list which will have the confirmed date should be out early next week.
While the court’s Advance List currently lists March 29 as the next hearing date for the crypto case, it is still subject to change. Furthermore, the court will first hear about the regulatory framework for cryptocurrency from the government and may not address the crypto banking ban by the central bank, the Reserve Bank of India (RBI), on the same day.
The regulatory framework for cryptocurrency in India is being drafted by an inter-governmental committee headed by Subhash Chandra Garg, Secretary of the Ministry of Finance’s Department of Economic Affairs.