Ahmedabad-based cryptocurrency firm may challenge RBI circular in SC

The source in the company said the July 20 date for hearing defeats the purpose since banks have to wind up their dealings by July 6, according to RBI's directions

Ahmedabad-based crypto firm Kali Digital Ecosystems may approach the Supreme Court to bring forward its next hearing on the Reserve Bank of India’s (RBI’s) circular prohibiting banks from dealing with cryptocurrencies.

This is because the central bank has asked all the lenders to wind up dealings by July 6. The hearing is slated for July 20. Alternatively, the company is also exploring a strategy of going to the RBI to put off its diktat to lenders unless the apex court comes out with its order. 

“We are exploring options to either go to the Supreme Court or RBI  in this