Delhi HC Seeks Responses From Centre, RBI, SEBI On BitBNS Crypto Crisis

by · Inc42

SUMMARY

  • The Delhi High Court has asked the Centre, RBI and SEBI to submit responses after a petition flagged serious concerns about the financial crisis at crypto exchange BitBNS
  • BitNS came under scrutiny after users reported of frozen withdrawals, prompting a plea for stringent cryptocurrency regulation and a probe into the exchange’s operations
  • At least 16 users filed the petition alleging that the platform was engaged in mismanagement and concealing a cyberattack that took place in February 2022.