According to a report in a local media outlet, on July 27, 2023, Indian Supreme Court reprimanded the Union government due to the lack of crypto regulations in the country, stated Cointelegraph.
The Supreme Court mentioned that it is “unfortunate” that the government has yet to release any clear guidelines around cryptocurrencies. The observation from the court came during the increased criminal activities involving cryptocurrencies. It is expected that this statement is directed to the Union government. The local daily reported that this might identify whether the Union government plans to set up any dedicated federal agency to investigate such crypto criminal cases, or not.
Sources revealed that “You still don’t have any law, unfortunately. Do you have an agency at the national level to understand these cases and investigate them properly? We want you to identify a national specialised agency, in the national interest,” Justices Surya Kant and Dipankar Datta explained.
However, it is believed that the government is yet to introduce the final draft of the crypto bill despite assuring it would be completed repeatedly over the past four years, Cointelegraph concluded.
(With insights from Cointelegraph)