Indian Official Tries to Condemn Bitcoin by Calling it a Shiny Toy But Ends Up Praising It Instead
An advocate practicing in the Supreme Court of India wants the government and regulators to treat bitcoin like a shiny new toy.
- An advocate practicing in the Supreme Court of India wants the government and regulators to treat bitcoin like a shiny new toy.
- Abraham C Mathews said in an opinion column published Monday that the Reserve Bank of India (RBI) had no structure in place to enforce crypto regulations – even if it wanted to.
- The statement follows a year-long high voltage drama between the Indian government and crypto startups over crypto regulations in India.
- Kali Digital Eco-systems Pvt. Ltd. which runs the exchange CoinRecoil, alongside three other petitioners claimed that the Indian central bank was misusing its position against an emerging competitive industry.