India's Supreme Court has raised concerns over the government's ambiguous stance on cryptocurrency regulation despite imposing taxes on digital assets like Bitcoin. During a recent hearing, Justice Surya Kant highlighted the unregulated nature of cryptocurrencies, labeling it as a potential threat to the country's economy. While acknowledging the implementation of crypto taxation, Kant urged the government to establish clear regulations, stating that if they can tax it, they should also regulate it. The Additional Solicitor General of India responded by indicating that the government would consider reviewing current cryptocurrency regulations. The Supreme Court hearing also touched upon the widespread use of Bitcoin globally, with discussions on its potential misuse and the need for regulatory frameworks. India's lack of comprehensive cryptocurrency legislation has faced criticism from industry players and policymakers amidst the sector's rapid expansion. Read more AI-generated news on: https://app.chaingpt.org/news

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