The Supreme Court has declined to consider a PIL seeking guidelines for trading and mining of cryptocurrency. The petition was brought before a bench comprising Chief Justice of India DY Chandrachud.
The court noted that even though the petitioner had filed the plea under Article 32 of the Constitution, it appeared that the primary aim was to secure bail for the petitioner in a related case.
“We cannot entertain this. Other prayers lie in the legislative domain. The petitioner can approach other authorities for remedies under law,” the CJI said.
The counsel representing the petitioner submitted that cryptocurrency was voluntarily purchased and thus there can be no offence under the Indian Penal Code for such a transaction.
However, the Court refused to entertain the matter further, opining that the petitioner could approach any other forum. “Why should the Supreme Court look into this?” the Court added.
According to the report, Wig served as one of the directors at Blue Fox Motion Picture Limited, enticing individuals to invest. Subsequently, victims reported the fraud to the Economic Offence Wing (EOW) in Delhi. A total of 133 investors or victims who had invested their funds, filed a case stating Wig deceived them.
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