The Supreme Court on Monday directed a cryptocurrency scam accused to provide the username and password of his bitcoin wallet to the Enforcement Directorate (ED) in a money laundering case. A bench of Justices DY Chandrachud and Surya Kant said the interim protection granted by the apex court to Ajay Bhardwaj, accused of “multi-layered marketing scheme” of bitcoin, would continue, provided he makes all such disclosures.
The court directed the ED to submit an updated status report in the matter. In its order, the bench said, “A petition has been filed by the respondents seeking cancellation of bail. Additional Solicitor General Aishwarya Bhati, appearing for ED, has filed a status report. The ED has contended that the petitioner’s brother is dead and the petitioner (Bhardwaj) has the crypto wallet username and password, which should be shared with the investigating officer.
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The top court also took note of the submissions of senior advocate PC Sen, appearing for Bhardwaj, that all records, emails and evidence are in the possession of the Pune Police and that all relevant details have been disclosed by his client. During the hearing, Bhati argued that investments in bitcoin were not made through normal banking investments and Bharadwaj should disclose the username and password of the cryptocurrency wallet held by him.