India’s Supreme Court Urges Government to Regulate Cryptocurrency Amid Global Moves

India’s Supreme Court has sharply criticized the central government for its prolonged inaction on cryptocurrency regulation, warning that the absence of a legal framework invites misuse. Justices Surya Kant and N Kotiswar Singh emphasized that banning crypto is not the solution—regulation is.

The rebuke comes as major economies advance their crypto regulatory frameworks. The US Senate recently progressed stablecoin legislation, while the European Union’s MiCA regulations are already being implemented. India’s delay stands in stark contrast to these developments.

Legal experts suggest the court’s intervention could accelerate India’s stalled crypto policy formation. Market participants have long awaited clarity, with many Indian traders using offshore exchanges during the regulatory vacuum.