A Public Interest Litigation (PIL) has been filed in the Supreme Court of India which is seeking an intervention to regulate the flow of bitcoin in India and ensure that it is accountable to the exchequer. "The lack of any concrete mechanism pending the regulatory framework in said regard has left a lot of vacuum and which has resulted in total unaccountability and unregulated Bitcoin (crypto money) trading and transactions," the petition added. The petition was filed by advocate Dwaipayan Bhowmick and the court is seeking responses from the finance, law and justice, information and technology ministries along with the Reserve Bank of India (RBI) and Securities and Exchange Board of India (SEBI). The development was first reported by Bar & Bench. Read the petition here. The petition said that the RBI and SEBI have been trying to shift the…
