New Delhi: The Supreme Court on Wednesday refused to consider a petition seeking the creation of a regulator for cryptocurrency. The bench of Justice BR Gavai and Justice Augustine George Masih stated that this decision falls within the jurisdiction of policymakers, not the judiciary.
The petitioner's lawyer argued that numerous complaints related to cryptocurrency are being registered across the country, hence the center should be directed to establish a regulatory framework. In response, the court said, "We cannot make laws. The petitioner can present their case before the government."
The bench also stated that the demands made in the petition fall within the domain of the legislature and the executive, therefore the court will not intervene in this matter. However, if the petitioner wishes, they can present their representation before the appropriate authority.
It is known that earlier the government had also informed the Supreme Court that no concrete decision has been made yet regarding the regulation of cryptocurrency.
