PTI | | Posted by Singh Rahul Sunilkumar
The Supreme Courtroom has refused to entertain a petition looking for a route to the Centre and others to border pointers for regulation of trading and mining of cryptocurrencies.
Cryptocurrencies are blockchain-based digital or digital currencies which function independently of a central financial institution.
A bench headed by Chief Justice D Y Chandrachud mentioned the primary reliefs sought within the plea had been extra in nature of a legislative route.
The bench, additionally comprising Justices J B Pardiwala and Manoj Misra, noticed that although the petition was beneath Article 32 of the Structure, it was evident that the “actual objective is to hunt bail in proceedings that are pending in opposition to the petitioner.”
“We’re unable to subscribe to this plan of action. The petitioner could be at liberty to maneuver the suitable courtroom for the grant of standard bail. Insofar as the primary reliefs are involved, they’re extra in a nature of a legislative route which the courtroom can’t subject beneath Article 32 of the Structure,” the bench mentioned in its order handed on Friday.
Article 32 offers with proper to constitutional cures and 32 (1) grants a citizen the suitable to maneuver the apex courtroom for enforcement of rights.
The bench famous that reliefs sought within the plea filed by the Uttar Pradesh-based man additionally included a route for prosecution of circumstances involving digital property/cryptocurrencies.
“We accordingly get rid of the petition granting liberty to the petitioner to pursue his cures in accordance with regulation,” it mentioned.