Supreme Court of India final hearing on Cryptocurrency Exchanges Bank account ban
The highest judicial body of India is scheduled their final hearing on 11th September regarding RBI asked banks to ban accounts that deals Cryptotransactions. Almost all the Indian Crypto exchanges faced a big issue due to this RBI decision. They filed an appeal on Supreme Court against RBI to lift this ban.
The case is going on for more than 3 months and the Supreme court refused to lift the bank ban in their previous hearing and said the final hearing on September 11. Almost all the exchanges had submitted their reports to the court and according to the experts, it seems most probably ban will be continued again.
If this happens, the price of crypto will go further down. Bitcoin is currently in the range of $6200 and $6300. If court’s decision is against Indian crypto exchanges, there is more chance that price of Bitcoin will go below $6000.