Forwarded from Coin Crunch News Channel
Live updates from court courtesy of CryptoKanoon:
Lawyers representing IAMAI and exchanges are arguing:
-> counsel for exchanges is arguing that RBI restricting banks from providing services to Crypto is a colorable exercise in the guise of consumer interest. It can exercise power in public interest only to the extent as provided under law such as interest of depositors,borrowers etc
-> RBI is its cautionaries gave impression as if some authorization was required for exchanges to run, however no such authorization was required under law.
- > If Crypto was a commodity then SEBI could have stepped in but RBI has nothing to do with it.
- > RBI is only a delegatee of power which cannot exercise same powers as parliament which has a direct impact on legitimate businesses.
-> Court asked Why cant you work without bank?
Counsel answered Any settlement taking place will be converted into cash. users r owners of bitcoin kept in my wallet, when they wish to sell, they sell their bitcoin through my bank account.
-> Court asked show us from your pleadings that any of the company/ business has got shut down due to banking ban effect since this averment is compulsory for making case under article 19(1)g
Counsel showed from page 39 of their writ petition that they have suffered losses.
also showed page 199 stating that exchange has lost users due to banking ban.
-> Manner in which other countries have treated Cryptos has been discussed. Justice Nariman Asked for a detailed chart on that.
-> Technology underlying the Blockchain and Crypto is being explained to the Hon'ble judges.
- > Counsel argues that Cryptos must not be equated to Sovereign Currency i.e., rupee etc.
One is commodity, other is currency.
In support, judgement of Brazilian Supreme Court is being read.
Court hearing ends here. Case will resume on coming Wednesday 14th August 2019.
Thank you!
Lawyers representing IAMAI and exchanges are arguing:
-> counsel for exchanges is arguing that RBI restricting banks from providing services to Crypto is a colorable exercise in the guise of consumer interest. It can exercise power in public interest only to the extent as provided under law such as interest of depositors,borrowers etc
-> RBI is its cautionaries gave impression as if some authorization was required for exchanges to run, however no such authorization was required under law.
- > If Crypto was a commodity then SEBI could have stepped in but RBI has nothing to do with it.
- > RBI is only a delegatee of power which cannot exercise same powers as parliament which has a direct impact on legitimate businesses.
-> Court asked Why cant you work without bank?
Counsel answered Any settlement taking place will be converted into cash. users r owners of bitcoin kept in my wallet, when they wish to sell, they sell their bitcoin through my bank account.
-> Court asked show us from your pleadings that any of the company/ business has got shut down due to banking ban effect since this averment is compulsory for making case under article 19(1)g
Counsel showed from page 39 of their writ petition that they have suffered losses.
also showed page 199 stating that exchange has lost users due to banking ban.
-> Manner in which other countries have treated Cryptos has been discussed. Justice Nariman Asked for a detailed chart on that.
-> Technology underlying the Blockchain and Crypto is being explained to the Hon'ble judges.
- > Counsel argues that Cryptos must not be equated to Sovereign Currency i.e., rupee etc.
One is commodity, other is currency.
In support, judgement of Brazilian Supreme Court is being read.
Court hearing ends here. Case will resume on coming Wednesday 14th August 2019.
Thank you!
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Live updates on the court case by cryptokanoon
https://twitter.com/cryptokanoon/status/1161503291584536576?s=09
https://twitter.com/cryptokanoon/status/1161503291584536576?s=09
Twitter
Crypto Kanoon
#Crypto v.#RBI Case is listed in Court no 4 as item no. 1 today. Court about to be resumed in few minutes. After the Court starts, few minutes will go in dealing with "urgent mentioning" matters. Stay tuned..
Thread by @cryptokanoon: everything that happened at court in today's hearing on IAMAI vs RBI #Crypto #RBI
https://threadreaderapp.com/thread/1161503291584536576.html
https://threadreaderapp.com/thread/1161503291584536576.html
Threadreaderapp
Thread by @cryptokanoon: " v. Case is listed in Court no 4 as item no. 1 today. Court about to be resumed in few minutes. After…
Thread by @cryptokanoon: " v. Case is listed in Court no 4 as item no. 1 today. Court about to be resumed in few minutes. After the Court staill go in dealing with "urgent mentioning" matters. Stay tuned.. The Court resumed. Urgent Menti […]" #Crypto #RBI
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**T&C
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Links to the FB, Twitter and Instagram contests are below and also follow us on facebook, Instagram and Twitter!
3. On instagram, you need to send us the gif/meme on topic #FinancialFreedom or #FinancialFreedomViaCrypto through DM.
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You’re invited to Crypto Night 2.0!
Something Big is about to Happen!
http://bit.ly/2yW22Jh
Attendees will get $25 - $100 of Giveaway.
Something Big is about to Happen!
http://bit.ly/2yW22Jh
Attendees will get $25 - $100 of Giveaway.
We are supporting ZCO mainnet swap. Deposit your ZCO tokens to Bitbns now. 😎
- Deposits and withdrawals would be paused from 28th August and would be opened up once swap is complete. ✌
- Deposits and withdrawals would be paused from 28th August and would be opened up once swap is complete. ✌
Twitter
Bitbns
We are supporting ZCO mainnet swap. Deposit your ZCO tokens to Bitbns now. 😎 - Deposits and withdrawals would be paused from 28th August and would be opened up once swap is complete. ✌
Bitbns would have a maintenance for 30 mins from 4:20 pm today. #FundsareSafu #RoutineUpdateForOptimisedServerInfra
Bitbns Crypto Night 2.0
The Next Big Step in Indian Cryptocurrency Exchange!
Sept 7th, Bangalore
Attend and Get Upto $100 Giveaway
RSVP > https://forms.gle/2sGKvsaJJLPJHv4e7
Note: Reward will be in the form of Tokens!
The Next Big Step in Indian Cryptocurrency Exchange!
Sept 7th, Bangalore
Attend and Get Upto $100 Giveaway
RSVP > https://forms.gle/2sGKvsaJJLPJHv4e7
Note: Reward will be in the form of Tokens!
Google Docs
Bitbns Crypto Night 2.0
Event Timing: September 7th, 2019, 5 PM onwards
Event Address: Public - The Rooftop Bar And Kitchen, Bannerghatta Road, Bangalore
Agenda
Registration: 4:30 - 4:50 PM
1. Welcome speech:
The journey and updates
2. The Big Reveal - Bitbns 2.0 (New Leap)…
Event Address: Public - The Rooftop Bar And Kitchen, Bannerghatta Road, Bangalore
Agenda
Registration: 4:30 - 4:50 PM
1. Welcome speech:
The journey and updates
2. The Big Reveal - Bitbns 2.0 (New Leap)…
Bitbns Announcements pinned «Bitbns Crypto Night 2.0 The Next Big Step in Indian Cryptocurrency Exchange! Sept 7th, Bangalore Attend and Get Upto $100 Giveaway RSVP > https://forms.gle/2sGKvsaJJLPJHv4e7 Note: Reward will be in the form of Tokens!»
Forwarded from Coin Crunch News Channel
From Crypto use to First Fiat Currency by Genghis Khan's Grand son. From why should court intervene in Monetary policy to Court directing RBI to respond properly to IAMAI's representation, everything that happened in SC on Aug 21 Hearing of #CryptoVsRBI
https://coincrunch.in/2019/08/22/supreme-court-rbi-response-iamai-representation/
https://coincrunch.in/2019/08/22/supreme-court-rbi-response-iamai-representation/
Coin Crunch India
Respond to IAMAI Point by Point in two weeks: Supreme Court Directs RBI
Update: Supreme Court has Quashed the RBI circular on March 04. 2020, deeming it unconstitutional. In the latest hearing for Crypto vs RBI, the supreme court has directed RBI to respond to representation made
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The government wants to protect us from the best investment asset in the history of mankind. RT and like if you agree
https://twitter.com/gauravdahake/status/1164848233283088384
https://twitter.com/gauravdahake/status/1164848233283088384
Twitter
Gaurav Dahake
The government says investors need to be protected from wealth erosion in crypto. Let's look the wealth erosion stocks. Case 1 Reliance communications From 800 rs to 1 rs in the same time as bitcoin grew from 0.03 USD to 10000 USD 1/n
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We would want you to have the best digital assets trading experience on mobile from bitbns
https://forms.gle/SoojkbdRHLZg7hJ39
We would want you to have the best digital assets trading experience on mobile from bitbns
Google Docs
Bitbns app issues
We take a challenge on our head to ensure we give a seamless experience on app. Many of you have not been very happy with it. We ask you for 2 weeks and we would ensure we give you an amazing app experience for you.