INDIA – In the on-going Indian Supreme Court battle about the proper utilization of cryptocurrency in the country, the creator of a crypto application or app developer accepts the 2020 award.
The Indian Supreme Court is facing a case that might cripple the utilization of digital assets in the said country. The battle was between the representatives and the central bank in India, wherein the argument is whether these banks should be permitted to work with cryptocurrency platforms.
Based on a tweet about the 18-year-old Harshita Arora, which was on January 24, the tweet stated that the passion for technology, human welfare, and science is visible. Moreover, as per the website of the Indian Ministry of Women & Child Development, the Bal Shakti Puraskar 2020 distinguishes incomparable achievements of children in different fields like arts & culture, social service, sports and bravery, scholastic achievements, and innovation.
Arora was one of the winners in several categories, and there are 49 winners. It was allegedly selected because of her brilliance in technological innovation. As per the website of the Indian government, the Bal Shakti award was established to identify the contribution of devoted institutions and individuals. The tireless determinations match the actions done by the Indian government for the children’s welfare.
Narendra Modi tweeted on January 24 that Harshita Arora was awarded the Bal Shakti Puraskar 2020. Moreover, it was stated on the tweet how she’s been focusing on broad sectors.
Arora mentioned to Bitcoin.com that after the launch of the app in January 2018, the app gained lots of optimistic feedback from digital asset community. Moreover, it gained thousands of funded downloads in 24 hours after the launch. It leads the app to become the second app in the category of Finance in the App Store.
Redwood City Ventures developed the app. It tracks the prices of over 1,000 digital assets from 18 exchanges in 32 various fiat currencies. Also, it lets its users establish push notifications for digital asset price alerts. Furthermore, it’s available on iOS in some areas around the globe.
Some have understood the choice to honor the cryptocurrency price tracking app’s creator as an indicator of support for crypto in India.
Varun Sethi, the Blockchain industry attorney, tweeted that giving the award to Arora was interesting due to the draft law by group, which enforces punishment for indirect and direct usage of cryptocurrency. Furthermore, Modi reportedly displayed anti-crypto sentiment previously, stating that there’s a minor hope for digital assets in the country as Modi regains power.
On the other hand, it can be debated as well that the award of Arora has nothing to do with the problematic legal circumstance in the present and future rank of digital currency utilization in India.
The supreme court of India is presently overseeing a fight between the Reserve Bank of India (RBI) and the Internet and Mobile Association of Indian (IAMAI). IAMAI filed the case against RBI, succeeding in the decision of the bank to ban whichever will have working relationships with digital currency platforms.
Moreover, the bill of a proposed law entitled “Banning of Cryptocurrency and Regulation of Official Digital Currencies” was leaked. However, the bill was not introduced in congress. Some members of the community think that the law is inconsistent, and it will not move forward.
The digital asset community in India appears to have faith that digital assets will be permitted in India.