Supreme Court Urges Clear Cryptocurrency Regulation in India

India’s Supreme Court has urged the government to implement clear regulations for cryptocurrency, highlighting concerns about market uncertainty and potential economic impacts. The court questioned why there is no comprehensive framework despite high taxes and increased cryptocurrency activity. 2020 rulings overturning an RBI ban illustrate a long-standing need for regulation, while recent developments raise hopes for a comprehensive policy that balances regulation and taxation to stimulate growth and combat illegal activities. The Supreme Court’s plea echoes the views of previous rulings and emphasizes the urgent need for decisive action.