Indian Supreme court rejects crypto petition, highlights legislative nature

The Indian Supreme Court declined to consider a Public Interest Litigation (PIL) that aimed to establish regulations and a framework of guidelines for cryptocurrency trading in India.

According to a report, the bench headed by the Chief Justice of India (CJI), after listening to the plea, remarked that the petitioner’s demands are more legislative in nature. Given the petition’s character, the bench, including Justice JD Pardiwala and Manoj Misra, dismissed the plea. The Supreme Court noted that despite the petitioner filing a PIL requesting regulations and guidelines for cryptocurrency and its trading, the underlying objective is to secure bail.

Significantly, Manu Prashant Wig, the…

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