Monday, November 19 2018

May 6, 2018

Petition in Delhi HC against RBI circular on crypto currencies

New Delhi-Maharashtra based company has challenged an Reserve Bank of India circular, prohibiting banks and financial institutions from providing services in relation to trading in crypto currencies , in the High Court of Delhi.The petitioner has sought the withdrawal of the April 6 circular of the RBI, claiming that it is arbitrary, unfair and unconstitutional.In the circular it is said that the entities regulated by the RBI are prohibited from providing any service in relation to virtual currencies, including those of transfer or receipt of money in accounts relating to the purchase or sale of virtual currencies.