Indian Official Tries to Condemn Bitcoin by Calling it a Shiny Toy But Ends Up Praising It Instead

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.
  • 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.


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