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Reconsidering the Case of India's Central Bank Stops Providing Services to Cryptokes Related Companies

The Delhi Higher People's Court will review the case of the Indian Central Bank’s ban on providing services to cryptocurrency related companies. This will have a decisive influence on the future of Indian cryptocurrency technology.

According to the Times of India, the Delhi High Court (one of the 24 state courts in the Indian judiciary, higher than the district court) has confirmed that it will stop and encrypt against the recent decision of the Reserve Bank of India (RBI) on May 24. Currency-related individuals or business entities provide services for hearings.

The case was filed by Kali Digital Ecosystems, based in Gujarat. The company plans to launch a trading platform. The company said that the ban was "arbitrary and unconstitutional."

Kali Digital Ecosystems claims that they have invested heavily in the launch of the CoinRecoil exchange in August this year.

Although the fate of cryptocurrency in India has so far remained unresolved. However, people have begun to seriously study distributed ledger technology, hoping to apply it to all walks of life, for example, to combat counterfeit drugs.