News Desk, AnyTV, New Delhi
Published by: Kumar Sambhav
Updated Fri, 25 Feb 2022 10:40 PM IST
Summary
ASG Bhati replied that the government’s stand would be informed to the court. The court was hearing a plea filed by Ajay Bhardwaj, an accused in the Gain bitcoin scam, in which Bhardwaj has sought quashing of the trial against him.
The Supreme Court on Friday asked the central government whether bitcoin is legal or not. The top court has asked the government to clarify its stand on cryptocurrencies. A bench of Justices DY Chandrachud and Surya Kant asked Additional Solicitor General (ASG) Aishwarya Bhati, representing the central government, to explain the government’s stand in this regard. During the hearing, Justice Surya Kant himself told Bhati, whether it is illegal or not. You have to make your stand clear.
ASG Bhati replied that the government’s stand would be informed to the court. The court was hearing a plea filed by Ajay Bhardwaj, an accused in the Gain bitcoin scam, in which Bhardwaj has sought quashing of the trial against him. He, along with mastermind and brother Amit Bhardwaj, is accused of running a multi-level marketing scheme promising huge returns to investors.
According to the available information, the scam size which was initially 2000 crores, after the increase in bitcoin value, it has been revised to 20,000 crores. ASG Bhati told the court on Friday that 87,000 bitcoins are involved in the case and the accused is not cooperating with the investigation. We have issued many summons.
At the same time, advocate Shoaib Alam, representing one of the complainants, said that the attack on the accused after he was granted bail was caught on CCTV cameras. After this, the court has given interim protection from arrest to the accused and directed him to cooperate in the investigation. The court has asked the investigating officer to file a status report regarding the cooperation made by the petitioner-accused. The bench will now hear after four weeks. At the same time, the order of interim stay on the arrest of the accused will continue till the next hearing.
Expansion
The Supreme Court on Friday asked the central government whether bitcoin is legal or not. The top court has asked the government to clarify its stand on cryptocurrencies. A bench of Justices DY Chandrachud and Surya Kant asked Additional Solicitor General (ASG) Aishwarya Bhati, representing the central government, to explain the government’s stand in this regard. During the hearing, Justice Surya Kant himself told Bhati, whether it is illegal or not. You have to make your stand clear.
ASG Bhati replied that the government’s stand would be informed to the court. The court was hearing a plea filed by Ajay Bhardwaj, an accused in the Gain bitcoin scam, in which Bhardwaj has sought quashing of the trial against him. He, along with mastermind and brother Amit Bhardwaj, is accused of running a multi-level marketing scheme promising huge returns to investors.
According to the available information, the scam size which was initially 2000 crores, after the increase in bitcoin value, it has been revised to 20,000 crores. ASG Bhati told the court on Friday that 87,000 bitcoins are involved in the case and the accused is not cooperating with the investigation. We have issued many summons.
At the same time, advocate Shoaib Alam, representing one of the complainants, said that the attack on the accused after he was granted bail was caught on CCTV cameras. After this, the court has given interim protection from arrest to the accused and directed him to cooperate in the investigation. The court has asked the investigating officer to file a status report regarding the cooperation made by the petitioner-accused. The bench will now hear after four weeks. At the same time, the order of interim stay on the arrest of the accused will continue till the next hearing.