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
Why Are You Being So Patriarchal Supreme Court Asks Centre Over Denial Of Permanent...
The Supreme Court on Monday February pulled up the Central Government over the denial of Permanent Commission for women officers in the Indian Coast Guard ICG nbsp The bench led by nbsp Chief Justice of India DY Chandrachud nbsp hearing...
Serving Personnel Can't Be Deemed To Ex-Servicemen From Future Date' Supreme Court Rejects Army...
Serving Armed Forces officers can't be deemed to be Ex-Servicemen from a prospective date said the Supreme Court while rejecting the claim of three appellants for appointments as Village Development Officers in the Uttar Pradesh State Service The appellants even...
CJI DY Chandrachud Cautions About Artificial Intelligence Says It Can Make Biased Decisions Based...
Chief Justice of India D Y Chandrachudrecently spoke on how no technology is neutral and how it can reflect human values when deployed in the real world The CJI spoke on how one must ponder the human and societal values...
Retired Employees Can t Claim Benefit Of Subsequent Govt Decision To Increase Retirement Age...
The Supreme Court has dismissed a petition filed by a group of teachers in Homeopathic Medical Colleges in Kerala seeking increase of their retirement age from years to years at par with the teachers of other Medical Colleges The...
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...
ADR in Family Law Benefits and Challenges...
Alternative Dispute Resolution ADR has become a pivotal tool in family law offering a way to resolve disputes without the need for contentious court battles At Eos Chambers we've observed the growing reliance on ADR methods such as mediation arbitration...
Speak With Our
Get a Appointment