Bitcoin

<ul><li>India’s Supreme Court rejected a petition that sought to direct the government to frame legislation for cryptocurrency.</li><li>As per the Article 32 of the Indian Constitution, the Supreme Court has no right to interfere in any legislature.</li><li>Though the court said the main reason for the petition was to seek bail, it still allowed the petitioner to approach other authorities for the same.</li></ul>India’s Supreme Court rejected a <a href="https://main.sci.gov.in/supremecourt/2023/40244/40244_2023_1_3_48220_Order_10-Nov-2023.pdf" rel="noopener noreferrer nofollow">PIL</a> (Public Interest Litigation) petition by Manu Prashant Wig, a director at Blue Fox Motion Picture Limited. The PIL aimed to direct the government and other relevant authorities to establish the basic framework and guidelines for managing the trading and mining of cryptocurrencies. The court rejected the petition, claiming that the petition seeks bail in the petitioner’s prevailing case and the plea is more legislative in nature.Wig is <a href="https://www.casemine.com/judgement/in/64a5ce5cb7a5647aff1abef8" rel="noopener noreferrer nofollow">accused</a> of “attracting individuals to invest in cryptocurrencies with a promise of higher returns” and is presently in custody at the Economic Offence Wing (EOW) of Delhi police. As per reports, Wig defrauded money from more than 130 investors or victims, and the victims filed a case against him at EOW in 2020.The bench headed by the Chief Justice of India (CJI) D.Y. Chandrachud and Justices J.B. Pardiwala and Manoj Mishra, after listening to the <a href="https://www.barandbench.com/news/supreme-court-refuses-entertain-pil-cryptocurrency" rel="noopener noreferrer nofollow">petition</a>, asked, “Why should the Supreme Court look into this?”. Under Article 32 of the Indian Constitution, the Supreme Court does not have the power to interfere with issues regarding legislature.Read full article at <a href="https://cryptotale.org/indias-supreme-court-rejects-a-petition-emphasizing-its-legislative-nature/" rel="noopener noreferrer nofollow">CryptoTale.</a>

India’s Supreme Court Rejects a Petition, Emphasizing Its Legislative Nature

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