Indian Supreme Court Rebukes Government for Lack of ‘Clear Cut’ Crypto Regulation Policy: Report
India’s Supreme Court has questioned why the country’s central government cannot formulate a “clear cut” policy on crypto regulation, the Economic Times reported on Monday.
Justice Surya Kant and N Kotiswar Singh said that there is “parallel under-market” for cryptocurrency that can affect the economy.
“Why does centre not come out with a clear cut policy on regulating cryptocurrency?” they posed. “By regulating the cryptocurrency, you can keep an eye on the trade.”
Justice Kant added that bitcoin (BTC) trading is “an illicit trade more or less like a Hawala business,” referring to a term used for the informal transferring of money from one place to another without the actual movement of physical money. Hawala transactions are illegal in…
