Dubey Criticizes Supreme Court's Stance on Cryptocurrency and Online Gaming

BJP MP Nishikant Dubey criticized India's Supreme Court for intervening in cryptocurrency and online gaming issues, arguing these activities are harmful to the country. He highlighted the legal complexities impacting regulation, taxation, and societal impact of gaming and cryptocurrency, discussing efforts to mitigate these through recent Financial Bill provisions.

Nishikant Dubey, BJP MP, has raised concerns over the Supreme Court of India's interventions in cryptocurrency and online gaming matters. Speaking at the Lok Sabha during a debate on the Finance Bill, Dubey noted the potentially harmful impact these have on the youth and the nation's economy.

Dubey cited that despite repeated assertions from former RBI Governor Shaktikanta Das discrediting cryptocurrency as legal tender, the Supreme Court's rulings have allowed its exchanges to thrive. This has led to ongoing transactions despite legal ambiguities, underlining a critical clash between legislative intent and judicial decisions.

Furthermore, Dubey discussed the legal challenges around online gaming and betting. He emphasized that differentiating gaming from betting has prompted a regulatory loophole, affecting law enforcement's ability to mitigate associated societal issues. The debate included calls for stricter regulations, challenging the court's definitions pertaining to skill in gaming.

(With inputs from agencies.)