So we're just a day away from finding out what the Supreme Court of India has to say about IAMAI's petition against RBI. As we know already Supreme Court's vacation bench admitted IAMAI's (Internet & Mobile Association Of India) petition against RBI.
IAMAI is a not-for-profit industry body registered under the Societies Act, 1986. Its mandate is to expand and enhance the online and mobile value added services sectors.
IAMAI had filed a report on 22nd of May citing urgency due to the 5th July deadline from RBI on banking services to cryptocurrency exchanges and the date has been set tomorrow.
Personally speaking I'm unsure if the apex court of India will rule on a financial matter concerning the country in one hearing tomorrow. So it's possible that there may be a new date set after the 20th July hearing when the apex court may choose to give it's judgement.
The ban will go into effect from the 5th onwards in case there is no positive outcome from the hearing scheduled tomorrow.
A quick poll to gauge user expectation.
If that happens what are you going to do. If you are holding tokens on Indian exchanges until the 5th. Will you then:
- Continue HODLing them with Indian exchanges
- Sell them for INR, exit your positions and withdraw.
- Transfer to External Wallet and HODL.
You reply to the poll with the respective number.
Also share your thoughts in the comments below and tell me what you expect the outcome to be tomorrow.
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