SC bins plea seeking directions to govt for regulating crypto mining

Tribune News Service

New Delhi, November 11

The Supreme Court (SC) has refused to entertain a petition seeking a direction to the government to frame guidelines to regulate trading and mining of cryptocurrencies — blockchain-based digital or virtual currencies which operate independently of a central bank.

Of legislative nature

The petitioner would be at liberty to move the appropriate court for the grant of regular bail. Insofar as the main reliefs are concerned, they are more in the nature of a legislative direction which the court cannot issue under Article 32 of the Constitution. — DY Chandrachud, CJI

A Bench, led by Chief Justice of India DY Chandrachud, on Friday said the relief sought by the petitioner was more in the nature of a legislative direction and it was evident that the real purpose was to seek bail in proceedings pending against the petitioner.

The top court, however, granted liberty to the petitioner to pursue his remedies in accordance with law.

“We are unable to subscribe to this course of action. The petitioner would be at liberty to move the appropriate court for the grant of regular bail. Insofar as the main reliefs are concerned, they are more in the nature of a legislative direction which the court cannot issue under Article 32 of the Constitution,” the CJI said.

Article 32 deals with right to constitutional remedies and 32 (1) grants a citizen the right to move the apex court for enforcement of rights.

The petitioner, a man from Uttar Pradesh, had also sought a direction for prosecution of cases involving digital assets/ crypto-currencies.

"We accordingly dispose of the petition granting liberty to the petitioner to pursue his remedies in accordance with law," it said.

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