Crypto scene has been a little bit hectic in India lately as back in April, the Reserve bank of India (RBI) expressed this a statement:

“In view of the associated risks, it has been decided that, with immediate effect, entities regulated by RBI shall not deal with or provide services to any individual or business entities dealing with or settling virtual currencies.”

This had the purpose to put an end on the services that had any relationship with cryptocurrencies while relying on the RBI to do banking. India never considered BTC as an applicable digital currency (but it wasn’t illegal either), moreover it went even more lunatic by calling it a Ponzi pyramid scheme, as we learnt it from another statement.

Now it seems that the panic was a little too early, as the High Court of Delhi has decided to issue a notice to the Ministry of Finance, Goods and Services Tax (GST) Council and to the Reserve Bank of India (RBI) claiming that the RBI’s decision against digital assets is violating the constitution, reported a local news provider called Times of India. The official claim that resulted in the notice from the court is caused by a company called Kali Digital, firm runs the crypto exchange CoinRecoil that is awaiting a launch. Kali Digital’s claim was filed on the 16th of April and it states that RBI has violated constitutional Articles 19 (1) (g) – allowing citizens the right to any occupation, trade, or business – and Article 14 – prohibiting discrimination between equals with the legislation introduced. Based on this claim, the High Court of Delhi asks for response from the above mentioned three parties. Kali Digital argues that the proposed ban will make it impossible for CoinRecoil exchange to operate. Official response has not been given from the part of the legislators, but stay tuned, we will edit the post once an answer is released.