Crypto Ban in India: Delhi High court seeks response from Central Bank

According to a report published on Times of India on April 22, The High Court of Delhi has allegedly issued a notice to the Ministry of Finance, the Reserve Bank of India (RBI), and the Goods and Services Tax (GST) Council stating that the RBI’s decision to end dealings with crypto businesses is against the constitution of India.

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The RBI released a press circular on 5th of April saying that they are no longer interested to provide services to any business or people who are associated with cryptocurrency. Kali Digital, a crypto company, filled a claim against the decision of RBI’s and The High Court reportedly sent the notice in response of Kali Digital’s claim. There is also an online petition asking to reverse the ban which gained over 43000 signatures by the press time.

In the official claim, Kali Digital mentioned that the RVI’s circular violated the constitutional Articles 19 (1) (g) and Article 14. At the same time they expressed their fear that such insensitive decision by RBI would affect CoinRecoil’s business operations immensely in an unconstitutional manner.

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