In a recent development, the Supreme Court has rejected a plea urging the Centre to establish guidelines for the trading and mining of cryptocurrencies. The Chief Justice, D Y Chandrachud, leading the bench, stated that the petition primarily sought legislative directions. The court, comprised of Justices J.B. Pardiwala and Manoj Misra, emphasized that the petitioner could seek regular bail through the appropriate court, as the main reliefs sought were of a legislative nature beyond the court’s purview under Article 32 of the Constitution. The plea also sought direction for the prosecution of cases involving digital assets and cryptocurrencies, with the court disposing of the petition and granting the petitioner the liberty to pursue legal remedies
