PIL in Bombay High Court seeks govt laws on regulation of cryptocurrency market
India Today
The PIL also talks about the unregulated business of cryptocurrency which affects the rights of the investors as there is no mechanism in law to redress their grievance. The PIL pointed out that despite the Supreme Court judgement in the case of Internet Mobile Association of India vs Reserve Bank of India, the Central government had failed to enact appropriate regulations to protect the interests of the citizens.
A Mumbai lawyer approached the Bombay High Court with a Public Interest Litigation (PIL) to issue directions to the Central government to formulate laws to govern the use and trade of cryptocurrency within the country.
The PIL filed by Advocate Aditya Kadam is seeking issuance of the Writ of Mandamus directing the Central Government to take urgent appropriate steps to enact statutory regulations or rules to protect the interests of the citizens of India at large.
