Overview
- The Supreme Court of India refused to entertain a petition seeking a regulatory framework for cryptocurrencies, citing it as a policy matter for lawmakers and the government.
- Justices B.R. Gavai and Augustine George Masih stated that the judiciary cannot 'lay down the law' on cryptocurrency regulation.
- Petitioners highlighted numerous complaints across the country due to the lack of clear legal guidelines for digital assets.
- The Court advised petitioners to approach the government directly to address their concerns about cryptocurrency regulation.
- India currently lacks a dedicated law for regulating cryptocurrencies, though measures like taxation and anti-money laundering compliance are in place.