- Main event, leadership changes, market impact, financial shifts, or expert insights.
- India’s Supreme Court pushes for crypto regulation clarity.
- Potential market shifts for Bitcoin, Ethereum expected shortly.
Highlighting the risks of a “parallel economy,” India’s Supreme Court demands definitive crypto regulations, underscoring existing legal vulnerabilities.
India’s Supreme Court, led by Justices Surya Kant and N. Kotiswar Singh, urges the government for a clear crypto policy. This push follows a hearing where a Bitcoin fraud case highlighted regulatory inadequacies. The Additional Solicitor General indicated a government review might ensue.
“If you can tax it at 30%, also please regulate it as you have recognised it by taxing it” – Justice Surya Kant, Supreme Court of India
The ruling significantly impacts the Indian crypto landscape. Following demands for policy clarity, domestic platforms and DeFi protocols may face a wait-and-see mode affecting liquidity and on-chain activities. The call reflects historical precedents, echoing the 2020 reversal of the RBI crypto ban.
While crypto stakeholders await updated regulations, major assets like Bitcoin and Ethereum may experience heightened volatility. Regulatory ambiguity has historically hindered institutional investment and development within the Indian crypto market.
The Supreme Court’s push may catalyze clearer regulatory frameworks, fostering more robust participation in cryptocurrency markets. Policymakers could draw on prior legal interventions, potentially stabilizing the market through consistent legal landscapes.
