High Court asks RBI, SBI to respond to plea to revoke prohibition on use of UPI for cryptocurrency exchange
The Hindu
In April 2018, RBI issued a circular prohibiting all the banks to deal with any virtual currency.
The Delhi High Court on Thursday sought the response of the Reserve Bank of India and State Bank of India on a plea seeking to direct the authorities to revoke the prohibition on the use of UPI platform in dealing and settling funds in the cryptocurrency exchange WazirX.
A bench of Chief Justice D.N. Patel and Justice Jyoti Singh issued notice to SBI, RBI, National Payments Corporation of India, and the Department of Financial Services and asked them to respond to the petition.
The court listed the matter for further hearing on December 24.
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