SC refuses to entertain plea to frame guidelines for regulation of trading of cryptocurrencies

The Supreme Court has refused to entertain a petition seeking a direction to the Centre and others to frame guidelines for regulation of trading and mining of cryptocurrencies.

Cryptocurrencies are blockchain-based digital or virtual currencies which operate independently of a central bank.

A bench headed by Chief Justice D Y Chandrachud said the main reliefs sought in the plea were more in nature of a legislative direction.