|

India’s Supreme Court issues the government an ultimatum for cryptocurrency regulations

  • Supreme Court gives the government only 4 weeks to develop the said crypto regulations.
  • The Union of India has been granted one last chance to come up with the guidelines for the virtual asset market.

Finally, there is light at the end of the tunnel following a directive to the government of India to come up with cryptocurrency regulations. The directive issued by the country’s Supreme Court gives the government only 4 weeks to develop the said crypto regulations.

Moreover, the court has told the government that if it fails to do so within the stipulated time, it will be forced to make its own judgment. The directive comes after a court hearing on February 25. The Union of India has been granted one last chance to come up with the guidelines for the virtual asset market. The Supreme Court made it clear that it is going to halt all cases related to digital assets including those of the parties that are seeking to have the directive by the Reserve Bank of India (RBI) reversed.

The RBI directive was issued in April 2018 where banks were requested to stop all dealings with people or businesses involved with cryptocurrencies. Consequently, the High Court of Delhi found the direction to be against the constitution. However, the Supreme Court continued to uplift the directive in spite of hearing several petitions.

A committee of the Indian government recently published a report that raised concerns regarding the influence of digital assets on the country’s fiat currency in the event cryptos were allowed to work as a legal form of payment.

Author

John Isige

John Isige

FXStreet

John Isige is a seasoned cryptocurrency journalist and markets analyst committed to delivering high-quality, actionable insights tailored to traders, investors, and crypto enthusiasts. He enjoys deep dives into emerging Web3 tren

More from John Isige
Share:

Editor's Picks

Starknet unveils strkBTC, shielded Bitcoin transactions on Ethereum Layer 2

Starknet, the Ethereum Layer 2 network developed by StarkWare, today announced strkBTC, a wrapped Bitcoin asset that introduces optional shielding while preserving full DeFi composability.

Bitcoin, Ethereum, and Ripple consolidate with short-term cautious bullish bias

Bitcoin, Ethereum and Ripple are consolidating near key technical areas on Friday, showing mild signs of stabilization after recent volatility. BTC holds above $67,000 despite mild losses so far this week, while ETH hovers around $2,000 after a rejection near its upper consolidation boundary.

Ethereum Price Forecast: FG Nexus continues distribution amid signs of returning risk-on sentiment

FG Nexus, once dubbed an Ethereum treasury firm, resumed offloading the top altcoin on Wednesday, distributing 7,550 ETH, according to data from smart money tracker EmberCN.

Top Crypto Gainers: Stable and Decred rally, Pippin approaches record highs

Altcoins, such as Stable, Decred, and Pippin, are extending gains so far this week, defying the risk-averse conditions in the broader cryptocurrency market. Stable and Pippin are near record high levels, while Decred extends its breakout rally above $30.

Bitcoin Price Annual Forecast: BTC holds long-term bullish structure heading into 2026

Bitcoin (BTC) is wrapping up 2025 as one of its most eventful years, defined by unprecedented institutional participation, major regulatory developments, and extreme price volatility.

Bitcoin: Another month of losses, and it’s been five

Bitcoin (BTC) price is stabilizing around $68,000 at the time of writing on Friday, but the Crypto King is poised to close February on a fragile footing, marking its fifth consecutive month of losses since October and a rare start to the year with back-to-back monthly corrections.