The Supreme Court of India condemns the federal government for its failure to introduce cryptocurrency regulation laws in a timely manner

ChainCatcher news, according to local media reports, the Supreme Court of India has condemned the federal government for its failure to introduce cryptocurrency regulations.

In its comments, the Supreme Court noted that "unfortunately," the government has not released any clear guidelines regarding cryptocurrencies. The court observed that there is an increasing amount of criminal activity involving cryptocurrencies, which led to this comment. The Supreme Court also mentioned whether the federal government plans to establish any dedicated federal agency to investigate cryptocurrency crime cases.

It is reported that the court made the above remarks while hearing petitions related to cryptocurrency fraud cases in different states of India. The court has requested the government to respond regarding its ability to establish mechanisms to investigate such cases.