TagSupreme Court

India’s Supreme Court Seeks Gov’t Report on Cryptocurrency in 2-Week Deadline

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India Bitcoin

India’s Supreme Court, the country’s apex court, has directed the central government to present its official stance on cryptocurrency within two weeks. In a telling move that seeks to end the ambiguity over the legality of cryptocurrencies like bitcoin in India, the government has been ordered to release its report on the cryptocurrency sector by the Supreme Court. The Supreme Court has been...

India's Supreme Court to Listen Final Arguments on Central Bank vs Bitcoin Case

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bitcoin law

The Supreme Court of India is set to hear the final arguments on the petition against the Bitcoin banking ban on Tuesday, reported local media. The ongoing battle between the Reserve Bank of India (RBI) and Internet and Mobile Association of India (IMAI) has entered its final phase before the country's apex court. The original hearing was scheduled on September 11, but due to the court's backlog...

India’s Supreme Court Refuses to Lift Cryptocurrency Banking Ban

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india bitcoin

In a ruling today, India’s highest court of law refused to grant any temporary respite against the central bank’s ban on banking services to cryptocurrency exchanges. On April 5, the Reserve Bank of India (RBI) – the country’s central bank – issued a circular to all regulated financial institutions including banks to prohibit them from providing services to businesses in the cryptocurrency sector...

Breaking: Supreme Court Denies Silk Road Founder Ross Ulbricht’s Petition to Review Life Sentence

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ross ulbricht

The U.S. Supreme Court has denied Ross Ulbricht’s petition for writ of certiorari, preventing the Silk Road operator from appealing his life sentence before the high court. The Court on Thursday included Ulbricht v. United States in a list of 19 certiorari denied by the court, apparently bringing Ulbricht’s legal saga to what supporters have characterized as a “devastating” close. SCOTUS denied...

Bitcoin Makes Historic First Appearance in US Supreme Court Opinion

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Supreme Court

Thursday marked a historic day for bitcoin, as the flagship cryptocurrency made its first appearance in an opinion published by the US Supreme Court. The case, Wisconsin Central Ltd. v. United States, did not involve bitcoin’s regulatory or legal status. Rather, it examined whether employee stock options represent taxable compensation under the Railroad Retirement Tax Act of 1937. That may seem...

India’s Supreme Court Claims All Petitions Against Central Bank Crypto Blockade

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India bitcoin crypto

The Supreme Court (SC) of India has barred all high courts from filing petitions against the central bank’s (RBI) crypto-curbing circular from April. The court also is clubbing all pending petitions, to be transferred to the SC. As cryptocurrency adopters, exchanges and advocacy groups move various high courts (HC) across the country in filing petitions against the RBI’s circular from April –...

Can’t Unilaterally Rule on Bitcoin Legality, India’s Central Bank Tells Supreme Court

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India Bitcoin tax

India’s central bank is pushing back against a court-approved petition seeking regulation – effectively legalization – of cryptocurrencies like bitcoin in the country. The Reserve Bank of India (RBI), the country’s central bank and financial regulator, has responded to a public interest litigation (PIL) filed in India’s Supreme Court in November 2017 that called on authorities to regulate the...

'A Reasonable Chance' Ross Ulbricht’s Case is Supreme Court Bound: Legal Expert

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Ross Ulbricht Supreme Court

One of the foremost experts on the operations of the US Supreme Court has identified Silk Road operator Ross Ulbricht’s case as one that raises questions that have “a reasonable chance of being granted” a hearing by the Court “in an appropriate case.” Tom Goldstein, the co-founder of respected law blog SCOTUSblog, selected Ulbricht v. United States as Jan. 23’s “petition of the day.” This...

Bitcoin Legality Debate Heads to India’s Supreme Court

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India Bitcoin

The lack of clear governmental policies over cryptocurrencies like bitcoin has seen a clarity-seeking petition land in India’s supreme court, the highest court in the country. Bitcoin is not officially ruled as a legal payment instrument in the country. It isn’t illegal either. The official stance, according to notice by India’s central bank in February – a rehash of a 2013 statement – asserts...

India’s Supreme Court Pushes Govt to Check Bitcoin Transactions

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India’s Supreme Court has demanded the country’s central bank and the government to check for bitcoin transactions in relation to terrorism funding and money laundering. According to a regional report today, the Supreme Court of India – the highest and final court in the country – has given the central government and the Reserve Bank of India (India’s central bank) a four-week deadline to...