New Delhi, May 19 -- "Why does Centre not come out with a clear cut policy on regulating cryptocurrency?" the Supreme Court asked on Monday, May 19, highlighting that its impact on the economy. A bench of Justices Surya Kant and N Kotiswar Singh termed the Bitcoin trade as an illicit trade more or less like "hawala" business.

"There is a parallel under-market for it and it can affect the economy. By regulating the cryptocurrency, you can keep an eye on the trade," the bench told Additional Solicitor General Aishwarya Bhati, appearing for the Centre.

Justice Kant added, "Trading in Bitcoin is an illicit trade more or less like a Hawala business."

Aishwarya Bhati requested to seek instruction on the matter.

The remarks from the Supreme ...