India’s Supreme Court has issued a rebuke to the government, urging swift action in regulating cryptocurrency due to the delays causing potential risks and market misuse. The court highlighted the need for clear regulatory frameworks and emphasized the economic concerns stemming from unregulated crypto markets. It further questioned why the government hasn’t established such frameworks, noting that existing directives remain ignored. Justice Surya Kant and N Kotiswar Singh emphasized this issue, suggesting the lack of regulation could lead to illegal activity while pointing out a parallel market for cryptocurrencies with significant financial risks. The court’s statement reignited calls for urgent action on cryptocurrency regulations in India. It’s important to note that despite previous rulings allowing crypto trading, there is still a regulatory gap which can increase fraud and create legal uncertainties. Experts believe that implementing regulation could align India with global practices and minimize these concerns. The Supreme Court ruling serves as a reminder of the ongoing regulatory challenges in the country.