Last week the decision of RBI on crypto currencies, left every Indian trader in shock but after this news we may get some relief.

Hi Indian Traders

If you are a Indian trader then most probably you knew about the currently legal status of crypto currency in India. 2 weeks ago, RBI announced ban on selling - purchasing of cryptos in India and gave 3 months of time to every bank to stop transaction related to cryptos.

Many did panic sale after hearing this news and many are still holding in hope that any solution will come out or at least they have 3 months time.

This news also affect the running crypto business and exchanges because after this news either they have to stop their business or move their business to out of India.

Last week an upcoming future Ahmedabad based exchange ( Scheduled To Launch In August This Year ) named "CoinRecoil" filled a petition against "Reserve Bank Of India, Union Of India, Goods and Service Tax Council" in Delhi high court. They stated that RBI is violating the article 14 and article 19 (1)(g) of the constitution of India.

Article 19(1)(g) - Do any business/profession or occupation of their choice if it is not illegal.

Article 14 - Every person has the right to equality before law.

After viewing the petition Delhi court issues notice to "Reserve Bank Of India, Union Of India, Goods and Service Tax Council" on their decision to end dealing with cryptos. The next hearing on this case is on 24 may 2018.

This is a great news for Indian trader that someone is fighting to remove the partial ban of crypto in India. I hope this news has give some relief to India crypto traders. Resteem this post to make it more visible and to reach at more Indians.

Thanks for reading...

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