Top Indian Court Flags Crypto Gaps, Cites Bitcoin Use in Illegal Transfers
India’s Supreme Court compared bitcoin trading to a sophisticated form of hawala and sharply criticized the government for failing to establish clear cryptocurrency regulations.
The court made this observation during a bail hearing tied to bitcoin-related charges and warned that the legal vacuum poses serious risks. While the defense argued that crypto trading isn’t illegal under current law, the court blamed the government’s inaction for ongoing confusion and potential misuse. Despite India’s leadership in global crypto policy talks during its G20 presidency, domestic regulation remains stalled, even as steep taxes on digital asset profits are already in effect.
Clever Robot News Desk 7th May 2025
