{"id":27660,"date":"2025-05-20T12:16:50","date_gmt":"2025-05-20T12:16:50","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=27660"},"modified":"2025-05-20T12:16:50","modified_gmt":"2025-05-20T12:16:50","slug":"why-cant-india-draft-a-clear-cut-crypto-policy-countrys-supreme-court-raps-government","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=27660","title":{"rendered":"Why Can’t India Draft a Clear Cut Crypto Policy? Country’s Supreme Court Raps Government"},"content":{"rendered":"
\n

India’s Supreme Court has questioned why the country’s central government cannot formulate a “clear cut” policy on crypto regulation, the Economic Times reported on Monday<\/a>.<\/p>\n

Justice Surya Kant and N Kotiswar Singh said that there is “parallel under-market” for cryptocurrency that can affect the economy. <\/p>\n

“Why does centre not come out with a clear cut policy on regulating cryptocurrency?” they posed. “By regulating the cryptocurrency, you can keep an eye on the trade.”<\/p>\n

Justice Kant added that bitcoin (BTC) trading is “an illicit trade more or less like a Hawala business,” referring to a term used for the informal transferring of money from one place to another without the actual movement of physical money. Hawala transactions are illegal in India.<\/p>\n

The justices posed their question to Additional Solicitor General Aishwarya Bhati, who requested to seek instruction on the matter. They were speaking while hearing a bail petition filed by Shailesh Babulal Bhatt, a Gujarat resident accused of crypto-related fraud.<\/p>\n

Bhati had claimed Bhatt was one of the biggest BTC trade aggregators in Gujarat, victimizing others with promises of high returns.<\/p>\n

The court however said that it could not ascertain whether Bhatt was a victimizer or a victim, lamenting the government’s inability to come up with a clear regime regulating cryptocurrency.<\/p>\n

India’s government had plans to release a discussion paper outlining its crypto policy stance by September<\/a> last year, though this has yet to materialize.<\/p>\n

A senior official said in February that the delay was due to plans to review the effect of more crypto-friendly policies<\/a> from the U.S. under President Trump.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

India’s Supreme Court has questioned why the country’s central government cannot formulate a “clear cut” policy on crypto regulation, the Economic Times reported on Monday. Justice Surya Kant and N Kotiswar Singh said that there is “parallel under-market” for cryptocurrency that can affect the economy. “Why does centre not come out with a clear cut […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":0,"footnotes":""},"categories":[2],"tags":[3,4,5],"class_list":["post-27660","post","type-post","status-publish","format-standard","hentry","category-news","tag-crypto","tag-doge","tag-news"],"_links":{"self":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/27660","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=27660"}],"version-history":[{"count":0,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=\/wp\/v2\/posts\/27660\/revisions"}],"wp:attachment":[{"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=27660"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=27660"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/dogewisperer.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=27660"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}