India’s Supreme Court Criticizes Delays in Cryptocurrency Regulation

The Supreme Court of India has openly criticized the government’s delay in establishing a regulatory framework for cryptocurrencies. During a hearing on cryptocurrency fraud, justices BR Gavai and Augustine George Masih compared unregulated Bitcoin trading to a 'refined form of Hawala,' expressing serious concerns about unchecked crypto transactions. The court has set a ten-day deadline for responses from the Gujarat Police and the Enforcement Directorate, signaling possible imminent regulatory actions. This judicial intervention is expected to accelerate the government’s efforts toward crypto oversight and may influence both public sentiment and policy directions within the country. The event is seen as part of a global movement towards stricter and more transparent digital asset regulations. Crypto investors and industry stakeholders in India are now anticipating regulatory certainty and adjusting their strategies accordingly.