IAMAI’s public interest litigation to freely allow crypto activity in India has gained much traction amongst the crypto community. Last week, we saw counsel for RBI, Mr Shyam Dewan and counsel for IAMAI, Mr Ashim Sood, present their cases to a panel of three judges.
While Dewan defended RBI’s authority to take whatever action it deems necessary in order to protect the stability of the domestic economy, Sood presented evidence to show that the RBI had conducted no independent research and had no proof that VCs would negatively impact regulated payment systems.
For CNZ’s full coverage of previous arguments, see here.
The hearing is set to resume today with IAMAI counsel, Advocate Sood, continuing his remarks. Stay tuned for our blow-by-blow coverage!