🚨 👉 The India Supreme Court has indicated that cryptocurrency should be regulated rather than outright banned. While acknowledging that lawmaking falls under the domain of the legislature and executive, the Court has repeatedly urged the government to establish a clear regulatory framework for virtual currencies.

The Court has expressed concerns about the unregulated nature of cryptocurrencies, likening Bitcoin trading to "hawala" (an informal and illegal money transfer system) and highlighting potential risks to the economy. However, it also noted that banning cryptocurrencies might not be wise, given their growing role in global trade and the fact that crypto transactions are already taxed in India. The Supreme Court has emphasized the need for expert consultation and a comprehensive policy to oversee and monitor the evolving crypto landscape.