Mon May 05 18:43:18 UTC 2025: ## Supreme Court Criticizes Lack of Bitcoin Regulation in India
**NEW DELHI –** The Supreme Court of India today criticized the government’s inaction on regulating virtual currencies, likening Bitcoin trading to a sophisticated form of the illegal Hawala system. In a hearing on Monday, the court expressed its concern over the lack of a clear regulatory framework for cryptocurrencies, highlighting the potential for illicit activities. The justices noted the current ambiguous situation leaves a loophole for potentially illegal financial transactions. The government has yet to respond to the court’s concerns regarding the need for a comprehensive regulatory approach to manage the risks associated with Bitcoin and other digital currencies.
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