Indian Supreme Court Declines PIL on Cryptocurrency Regulation

Indian Supreme Court Declines PIL on Cryptocurrency Regulation



Listening to the petition, the Chief Justice of India-led bench observed that the petitioner's requests were more suited for legislative action. The Indian Supreme Court refused to entertain a Public Interest Litigation (PIL) seeking the establishment of rules and guidelines for cryptocurrency trading in India.



The bench, including Justice JD Pardiwala and Manoj Misra, after hearing the plea, concluded that the petitioner's demands fell under legislative jurisdiction and dismissed the plea. The court acknowledged that although the PIL sought regulations for cryptocurrency trading, its primary aim was to obtain bail.



The petitioner, Manu Prashant Wig, is currently in custody of the Delhi Police for a cryptocurrency-related case. In 2020, the Economic Offence Wing (EOW) of the Delhi Police charged Wig, who was a director at Blue


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