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Bittu
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India’s Supreme Court Likens Bitcoin Trading to Refined Hawala, Slams Lack of Regulatory Clarity India’s highest court has drawn sharp parallels between unregulated Bitcoin trading and traditional money laundering, spotlighting the urgent need for a clear crypto policy. India’s Supreme Court has sounded a strong alarm on the growing disconnect between the rise of Bitcoin trading in the country and the central government’s sluggish regulatory response. According to a local report, during a hearing on Monday, the apex court likened the unregulated use of Bitcoin to a “refined form of Hawala,” an informal and often illicit money transfer system. The remarks came during a bail hearing for Shailesh Babulal Bhatt, who has been in custody since August 2023 and is accused of illegal Bitcoin trading.
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