Crypto ban remains effective after supreme court re-hearing in India

Posted 20 July, 2018

After the re-hearing of the crypto case, the Supreme court of India has determined not to lift the ban on crypto activities in the country citing insufficient comments and grounds provided by the participants during the hearing.

The source in the know wrote that:

"Supreme Court listed the matter for final disposal on 11th September. All (remaining) parties to file their reply within 4 weeks."

Specifically, all parties concerned can submit comments within 4-week period before the final hearing. The next hearing is slated for early September.

For reference, India's Central Bank banned local banks from allowing their clients to buy digital coins via bank accounts. In early July, a number of crypto companies filed a petition requiring to cancel the order, but their claims were not satisfied. Meanwhile, the major local trading platform Zebpay suspended fiat operations.

As one of the officials commented, the government hardly considers a crypto ban, and the key problem is the regulation of the trading – the authorities need to know money sources. He also added that trading would become more regulated in case of certification of the cryptos as exchange commodities.

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20 July, 2018 15:43

← Surrey police make first confiscation and exchange of cryptocurrency in UK

During the proceeding against the criminal group dealing with drug trading and money laundering, the police in the Surrey county confiscated 295 BTC with further coin exchange. The digital currency was seized last October at the lean on the living residence of 31-year old Seregjs Teresko from Latvia. The criminal was arrested. The coins were said to be kept at hardware wallet KeepKey.

Surrey police make first confiscation and exchange of cryptocurrency in UK

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20 July, 2018 12:21

Cryptocurrencies post mixed dynamics →

Prices for digital coins showed different dynamics at the end of the year. Once Bitcoin soared $7,500 this week, its price has slackened by now, but shows upward attempts. This morning the major coin changed hands on the Bitfinex at $7,456 (1.8% up d-o-d). Ethereum on this platform decreased to $463.84. The price for Ripple on the Poloniex dropped to $0.45782.

Cryptocurrencies post mixed dynamics
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