15:19 (IST)

RBI’s 2016 decision was taken as a consumer protection measure. However, Sood argues that the documents that it has submitted backing this decision do not sufficiently justify the act. Some of the documents that RBI submitted as evidence that of its research into whether crypto was a legitimate commodity were not even in existence when RBI made its decision. This clearly indicates that RBI had no intention to even consider crypto’s merits as a medium of exchange.

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