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.