Lagatar24 Desk
New Delhi, Feb 25: The Supreme Court on Friday asked the administration to clarify whether Bitcoins are lawful in the country.
This was in relation to the GainBitcoin scam, which allegedly involved the theft of 87,000 Bitcoins worth Rs. 20,000 crores.
It is crucial to emphasise that the question was asked during the Court’s oral observations, and the Centre has not been given a written order to respond.
A bench of Justices D Y Chandrachud and Surya Kant was hearing a petition filed by Ajay Bhardwaj, one of the scam’s defendants, to have the accusations against him dismissed.
Justice Surya Kant said, “You (Government) have to make the stand (on Bitcoin) clear on whether Bitcoins are illegal or not.”
In reply, Additional Solicitor General Aishwarya Bhati, appearing for the Centre, said, “The validity is not in question here. It is a scam and they are the accused. This involves 87,000 bitcoins and the accused is not cooperating with the investigation.”
The accused Ajay Bhardwaj’s temporary protection from arrest was extended for another four weeks by the court. It was noted that the next hearing would be in four weeks.
Amit Bhardwaj, the accused mastermind behind the GainBitcoin fraud, has a brother named Ajay Bhardwaj. He was detained in March 2018 and granted bail on April 3, 2019 by the Supreme Court.
