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HomeNewsTelecom NewsIAMAI reaches SC over RBI’s cryptocurrency ban diktat
Thursday, 17 May 2018 13:27

IAMAI reaches SC over RBI’s cryptocurrency ban diktat

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The mobile phone operators’ body, the Internet and Mobile Association of India (IAMAI) has filed a petition in the apex court on May 15 regarding the RBI’s diktat to ban cryptocurrency. The finance ministry’s Department of Economic Affairs had constituted an interdisciplinary committee last year to examine virtual currencies.

Four more such petitions had been filed earlier. Another writ petition was filed by a group of 11 different representatives from various crypto-related businesses challenging the constitutional validity of the RBI’s decision.

The regulator RBI has given banks a deadline of July 6 to adhere to the new rule – banning cryptocurrency.

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