Quote from: Tylev on July 06, 2018, 06:02:46 PM

Quote from: SK funky on July 06, 2018, 08:17:12 AM

India is going a step further than most countries in cracking down on peer-to-peer money
In the legal challenge before the Supreme Court, the RBI said Bitcoins cannot be treated as currency under India's existing law that mandates coins to be made of metal or exist in physical form and stamped by the government. The court directed RBI to consider representations by cryptocurrency platform providers Cheesy

The Supreme Court of India acted in accordance with the law, he had no right to make another decision. This court pointed out that under the current legislation of India, the crypto currency can not be considered a currency. Indeed, in the legislation of this country, the currency is not recognized as a currency. These issues have no right to decide the court. The court was created in order to follow the strict implementation of laws and not have the right to change them. These issues should be resolved by the legislative body of India. Here, the court had to decide whether the Reserve Bank of India went beyond its powers, sending controversial recommendations to lower-level banks about the restriction of circulation of the crypto currency.

You went alright till this point.
The legislative body is making laws, it is the supreme court that decided if the laws have been broken and the RBI acted unlawfully. But since there is no law regarding cryptos, nobody can blame legally RBI for taking a stance against something that is not regulated by the law.

Unfortunately, people are concentrating their effort on fighting the RBI decision, with really no chance of success rather than putting pressure on the parliament in creating a legal environment for cryptocurrencies.