India’s Supreme Court urges government to regulate cryptocurrency
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India’s Supreme Court questioned the government’s failure to regulate cryptocurrencies despite taxing them, warning that Bitcoin and similar assets pose economic risks.
India’s Supreme Court has questioned the government’s lack of regulatory clarity on cryptocurrencies despite imposing taxes on digital assets like Bitcoin.
According to Indian legal news outlet LawChakra, the country’s Supreme Court expressed concern over the growing use of Bitcoin (BTC) and other cryptocurrencies while remaining largely unregulated.
“This is a whole parallel economy running with such coins and is a danger to the economy of the country,” Justice Surya Kant reportedly said during a recent hearing related to an ongoing investigation into a Bitcoin transaction.
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