12:16 (IST)

However, Judges call attention to the fact that while prices may have reduced in the immediate aftermath of RBI’s initial directive, data showed that they increased dramatically in 2017 and again declined in 2018. Hence, prices were clearly affected by global trends and not solely by RBI’s directive. The RBI Counsel acknowledges that prices and volume of crypto trades are affected by a number of other factors – both national and global.

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