Indian Central Bank Makes a Case Before Supreme Court Against Allowing Crypto Use

Regulation

India’s central bank told the country’s supreme court on Friday that “allowing dealings in cryptocurrencies like bitcoin would encourage illegal transactions.” Other crypto petitions being heard include one asking the government to “take emergency steps to restrain the sale and purchase of illegal cryptocurrencies.”

Also read: Yahoo!

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BitMEX CEO: Bitcoin Hasn’t Seen the Worst, $5,000 Imminent Before Big Rally

On CNBC’s Fast Money, BitMEX CEO Arthur Hayes reaffirmed his stance on the price of bitcoin stabilizing in the $5,000 region before initiating the next rally.

Is a 30% Drop Imminent?

On July 1, Hayes appeared on CNBC’s Fast Money and discussed the price trend of bitcoin and the extreme volatility in the cryptocurrency amidst the third worst correction in the industry’s history.

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