Indian Supreme Court asks government to clarify legality of cryptocurrencies in the country

Time：2022-02-27 Source： 1323 views Policy Copy share

India’s Supreme Court has asked the government to clarify the legality of cryptocurrencies in the country after a surge in bitcoin scams.

Justices D Y Chandrachud and Surya Kant asked Solicitor General Aishwarya Bhati to clarify the government’s stance on the use of cryptocurrencies in India.

It is reported that the Supreme Court of India is hearing a case related to the GainBitcoin scam, which allegedly defrauded 87,000 coins worth 20 billion rupees ($2.64 billion).

Earlier news, Indian Finance Minister Nirmala Sitharaman announced a new 30% tax on cryptocurrencies, but stressed that cryptocurrencies have not yet been legalized, while the central bank continues to call for a total ban on cryptocurrencies.

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