Supreme Court Seeks Union's Stand Regarding Cryptocurrency
Supreme Court Seeks Union's Stand Regarding Cryptocurrency
|
The Centre has told the Supreme Court it is yet to take a decision on a mechanism to regulate cryptocurrencies and effectively investigate related offences. A bench of justices Surya Kant and KV Viswanathan was told by Additional Solicitor General Vikramjit Banerjee, appearing for the Centre, that the issues related to the digital currency are continuously evolving and the government is deliberating on the mechanism to regulate the cryptocurrencies.
He sought time to file an affidavit by the next date of hearing in the case giving updated position on the mechanism."So far as the stance of the Union of India with reference to the matters of cryptocurrency arising in different states is concerned, the Additional Solicitor General of India seeks and is granted four weeks' time to file an appropriate affidavit," the bench ordered on Friday.
During the hearing, Justice Kant said the court only wants that there are appropriate safeguards to protect the common man from frauds and misuse of cryptocurrencies.
"We are not experts on what kind of currencies you should have or regulate. If there is no mechanism to regulate it, then anyone can create a currency and start transacting in it. It will be very dangerous," the bench told Banerjee.
The ASG assured that deliberations are going on but it's an evolving question and he will file an affidavit giving details of it on the next hearing of the matter.
Read more
Post Categories
Featured Posts
Latest Posts
Latest Posts
Children Born Out Of Irregular Marriage Legitimate Muslim Law Supreme Court...
The Rajya Sabha has passed the JThe Supreme Court has noted that children born out of irregular marriages including one between a Muslim man and a Hindu woman are legitimate and therefore eligible to inherit intestate property as per applicable...
BREAKING Supreme Court Issues Fresh Guidelines For Senior Designation Previous Applicants Required To Update...
The Supreme Court has issued fresh guidelines for the designation of senior advocates following the May judgment in nbsp Indira Jaising vs Supreme Court nbsp which modified the criteria for senior designation The Court has directed that Advocates-on-Record Advocates who...
Supreme Court Questions Effectiveness Of Delhi's 'Odd-Even' Scheme In Controlling Pollution...
The Supreme Court on Tuesday November questioned the effectiveness of the Delhi Government's odd-even scheme in controlling air pollution while terming it as ldquo optics rdquo Under this scheme vehicles with license plate numbers ending in an even digit are...
Supreme Court To Form Panel Of Experts To Evaluate Carrying Capacity Of Hilly Areas...
In order to determine the nbsp ldquo carrying capacity rdquo nbsp of overcrowded hill stations in Uttarakhand Himachal and other Himalayan states affected by landslides the Supreme Court on Monday decided to form a panel of experts on environment and...
CJI DY Chandrachud Launches e-DHCR Portal calls it 'Powerful Platform' For Digital Publication of...
Chief Justice of India Justice DY Chandrachud on Monday launched the e-DHCR portal a user friendly official platform for reporting the judgments of Delhi High Court nbsp CJI Chandrachud said that the initiative marks a ldquo profound shift rdquo in...
Supreme Court Stays High Court Order On Old Pension Scheme For Paramilitary Forces...
The Supreme Court on Friday stayed the Delhi High Court judgment which held that the old pension scheme OPS will be implemented in the Central Paramilitary Forces CAPF During a brief hearing a bench of Justices Sanjeev Khanna and Bela...
Speak With Our
Get a Appointment