India: What Is Your Expectation For The Supreme Court Hearing On 3rd July? + Quick Poll
So we're just a day away from finding out what the Supreme Court of India has to say about IAMAI's petition against RBI. As we know already Supreme Court's vacation bench admitted IAMAI's (Internet & Mobile Association Of India) petition against RBI.
IAMAI is a not-for-profit industry body registered under the Societies Act, 1986. Its mandate is to expand and enhance the online and mobile value added services sectors.
IAMAI had filed a report on 22nd of May citing urgency due to the 5th July deadline from RBI on banking services to cryptocurrency exchanges and the date has been set tomorrow.
Personally speaking I'm unsure if the apex court of India will rule on a financial matter concerning the country in one hearing tomorrow. So it's possible that there may be a new date set after the 20th July hearing when the apex court may choose to give it's judgement.
The ban will go into effect from the 5th onwards in case there is no positive outcome from the hearing scheduled tomorrow.
A quick poll to gauge user expectation.
If that happens what are you going to do. If you are holding tokens on Indian exchanges until the 5th. Will you then:
- Continue HODLing them with Indian exchanges
- Sell them for INR, exit your positions and withdraw.
- Transfer to External Wallet and HODL.
You reply to the poll with the respective number.
Also share your thoughts in the comments below and tell me what you expect the outcome to be tomorrow.
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I think Im going to go with option 1
We Expect Supreme Court take some strong decision in favour to legalise Crypto Currency. At list Give more 3 months time to all exchange to continue with banks...
I agree with your thought that the exchanges will get the more time for close her banking.
Cheers! you will win than we all win..... :) :) :D
Time will tel everything...
We just have to wait and watch...
umm lets see sir ,can you tell me sir i converted some steem to ltc on blacktrades of my zebpay exchange but from yesterday its showing pending my payment doesn't confirm yet😞😒
Well this is for sure a panic situation but i know that their are other ways to get our profit out from Cryptocurrencies and if we see current market conditions then this is a perfect time for buy Cryptocurrencies and i don't want to miss this falsh sale,so i just bought $1500 worth steem today because i know it's a foolish decision to sell oyr Cryptocurrencies in such a fud.
I wish crpyto will regulate in india what you think?
Although none of our (me + my family + few friends) tokens reside within the Indian cryptosphere but still I think the 3rd option should be the one to be chosen.
Please do remember that a part of the input money in out combined portfolio comes from India. So in one way the Indian crypto market is definitely close to me.
Poll: I choose option 1 for now and later on if the ban continues, I will go ahead with option 3. HODL is the key term here! :-) Because I believe that sooner or later, our govt. will regulate crypto trading and we will be back to normal!
Fingers Crossed @Firepower.
Hope for the best. But prepare for the worst
They need to see the future....accept the tomorrow of business....crypto is going to places
Hah! too much pressure for the poor Indians no jobs no opportunities. If this door closes then it's gonna be really sad. Let's Hope for the best.