Cryptoblockade Petitions claimed by India`s Supreme Court

The Supreme Court (SC) of India has prohibited all high courts from filing petitions against the central bank’s (RBI) crypto-curbing circular from April
18 May 2018   808

The cryptocurrency exchanges, adopters and advocacy groups pace different high courts (HC) around the country in filing petitions against the RBI’s circular from April – effectively barring banks from processing all cryptocurrency purchases – in a hearing on Thursday the Supreme Court has ordered that HCs will no longer let any petitions to be filed, according to the report by the local news resource Crypto Kanoon. The Supreme Court has also denied to put any stay, or a temporary delay, on the central bank’s circular.

The Delhi High Court was given the petitions against the RBI circular by the range of crypto firms including the exchange operator Kali Digital and Flintstone Tech, a crypto trading and storage platform. They claimed that RBI’s new measures were “arbitrary, unfair and unconstitutional”. Earlier this month, 4 more Indian exchanges challenged the RBI circular and its constitutional validity with a writ petition. During Thursday’s events` development, the Supreme Court has appointed the next proceeding on the matter on July 20 when it will hear related petitions filed at the court.

After numerous warnings against cryptocurrency-related investments over the years, the Reserve Bank of India published a sweeping policy banning all regulated financial institutions including banks from providing services to firms “dealing with or settling [cryptocurrencies]” on April 5. The RBI also mandated banks to settle and block their services and relationships with customers dealing with cryptocurrencies in a 3-month period that will run out on June 6.

Coinbase to Expand Services for Asia

Among the services available now there are Coinbase Prime, Pro and Custody
22 January 2019   120

Coinbase, the leading US cryptocurrency company reported that from now on its professional trading and custodial platforms are available to institutional clients and investors with large volumes from the Asian region.

In particular, according to the Coinbase blog, users of Asia will have access to the option of depositing accounts and withdrawing funds using SWIFT transfers through non-US bank accounts.

In the past 12 months, hundreds of crypto-first hedge funds have launched around the world, and many hundreds more traditional institutions such as proprietary trading firms, family offices and endowments have begun actively trading digital assets. Coinbase’s suite of professional products — Coinbase Prime and Pro, Coinbase Custody — serves these customers, along with other participants in the market, like asset issuers, crypto exchanges, and miners.

Elliott Suthers


Among the services available there are Coinbase Prime, Coinbase Pro and Coinbase Custody, which also supports the steamer USDC.

In December 2018, Coinbase began to provide services to residents of the islands of Guernsey and Maine, as well as Lithuania, Iceland, Andorra and Gibraltar.