A cryptocurrency is a digital or virtual currency insured by cryptography, which makes it almost impossible to falsify or double expense. (Representative image) | Photo credit: Reuters
The Supreme Court on Wednesday (April 16, 2025) refused to examine a supplication of a regulatory framework on cryptocurrencies and said it could not “present the law.”
A cryptocurrency is a digital or virtual currency insured by cryptography, which makes it almost impossible to falsify or a double expense.
Editorial | Double -edged sword: in the cryptocurrency ruling of the Supreme Court
There are decentralized networks that use blockchain technology, a distributed major book imposed by a disparate network or computers.
The plea appeared to listen to a Bank of Judges Br Gavai and Agustine George Masih.
The lawyer who asks the petitioners said that several complaints were filed throughout the country in cryptocurrencies.
The lawyer said that the petitioners were looking for instructions for the center and others for a regulatory framework on the subject, since there was no law to regulate it.
“It is in the domain of the political leaders. How we,” Judge Gavai asked, “do we issue such a address? We cannot establish the law.”
The bank said the petitioners could make a representation on the issue to the government of India.
The lawyer argued that several petitioners approached different police authorities, but there was no regulatory policy on the subject.
“The sentences made in the petition are the domain of the legislature and the Executive. From that point of view of the matter, we are not inclined to entertain the petition,” said the bank.
If the petitioners wanted, said the bank, they could make a representation to the appropriate authority to be considered.
In January last year, the Center informed the Supreme Court that it had not yet made a decision on a mechanism to regulate cryptocurrencies and investigate effective relations.
The Supreme Court listened to a separate bond or a defendant reserved for alleged cryptocurrency fraud in several states.
Published – April 16, 2025 03:45 pm ist