Mobile Body IAMAI Files petition Against RBI’s Cryptocurrency Ban
The Internet and Mobile Association of India( IAMAI) has filed a written petition in the Supreme Court requesting a stay against the RBI’s order to not allow banks to provide services to cryptocurrency trading platforms.
IAMAI 's president Subho Ray has confirmed the filing of petition though he was not available to comment on the matter. It is interesting to note that this marks the fifth petition to be filed against Apex Bank on its order dated 6 April that disallowed entities from dealing in virtual currencies. RBI had given banks a deadline of 6 July to adhere to the new rule.
Last year, several cryptocurrency exchanges had come together to form a collective industry body called Digital and Blockchain Foundation of India. However, in November 2017 the association got merged with ...