SC says no to making rules on cryptocurrencies: ‘Can’t lay down the law’

The Supreme Court on Wednesday refused to entertain a petition seeking the formulation of rules to regulate cryptocurrencies, stating it could not “lay down the law” in such matters.

Cryptocurrencies are digital currencies secured by cryptography, making them difficult to counterfeit or misuse. They function using Blockchain technology—a decentralised ledger maintained by a global network of computers.