Wed Apr 16 10:15:43 UTC 2025: **Supreme Court Rejects Plea for Cryptocurrency Regulation**
NEW DELHI (April 16, 2025) – The Supreme Court of India today dismissed a plea calling for a regulatory framework on cryptocurrencies, asserting that it lacks the authority to create such legislation. A bench of Justices B.R. Gavai and Augustine George Masih heard the petition, which cited numerous complaints filed nationwide regarding cryptocurrency-related fraud.
While petitioners argued for government intervention due to the absence of current regulation, the court stated the matter falls under the purview of policymakers. Justice Gavai questioned the court’s ability to “lay down the law” on this issue. The bench suggested that petitioners instead direct their concerns to the government.
The court’s decision follows a previous statement from the Centre last January, informing the court of its ongoing deliberation on a regulatory mechanism for cryptocurrencies and related crime investigations. This latest ruling reinforces the government’s primary role in addressing the regulatory aspects of the cryptocurrency market in India.
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