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The Reserve Bank of India claimed that any political decision on cryptocurrencies was the responsibility of the central government
. The Supreme Court had asked the government to clarify its position on cryptocurrencies. At the hearing of petitions challenging an RBI circular prohibiting entities regulated by it from providing banking services to cryptocurrence stock exchanges, Judges RF Nariman and Naveen Sinha requested the government to present its official position on virtual currencies within two weeks.
Cryptocurrency is not illegal in India, the Reserve Bank of India (RBI) has discouraged its use. Lawyer Nakul Dewan, who represents cryptocurrency scholarships, said the government needed to give the issue a certain purpose. The central bank lawyer said that a political decision concerning cryptocurrencies was the responsibility of the central government, and that he has maintained in the past
"We have employees. there are jobs, "Dewan told the Supreme Court. Earlier this week, one of the co – founders of Unocoin, India 's largest encryption exchange, was arrested for installing an automated teller machine for bitcoins, l' bit bit bit bit bit bit bit bit bit bit bit bit bit bit. one of the most popular crypto-currencies. obey the law and seek clarification from the government if they are not satisfied. "It's the law of the land and therefore we have to work with it. If we do not agree, we have to go back to the government and say why the cryptocurrencies are not right, "Ghosh said.
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