So I just read the news and I am a bit Disappointed to see the Supreme Court pass such a Judgement.
The whole fiasco started on 6th of April when RBI suddenly passed a Circular in which they asked all Financially Regulated Entities under RBI to stop rendering services to Cryptocurrencies and any other Business associated with Cryptocurrencies. RBI gave them a 3 Month Period to Retrace all their Steps.
There was a massive sell-off after this Decision which led to several People selling their Cryptos at Dirt Cheap Price. Within few weeks we saw several People standing up for the Cryptocurrency Community in India. Several Petitions were signed on change.org and even some People went ahead and Filed a Petition in High Courts. This led some Exchanges to file their own petition against the RBI Circular and they wanted to put a Stay order on the Circular.
But sadly today at around Noon Supreme Court of India has refused to put a Stay Order on the RBI Circular. Further, the next Date given by the Court for Hearing in this Particular Case is 20th of July which is about 2 Weeks after the Deadline of 3 Months Provided by the RBI.
I would have to say that I am a bit Disappointed on Supreme Courts Decision as I believe if we don't get into the Blockchain Race early we will be left behind in the Dust by other Countries.