🚨 🚨 BANNING CRYPTO IS NOT A SOLUTION ✅
C𝐫𝐲𝐩𝐭𝐨 𝐧𝐞𝐞𝐝𝐬 𝐫𝐞𝐠𝐮𝐥𝐚𝐭𝐢𝐨𝐧 said 🇮🇳Supreme court.
During a hearing on a 𝟐𝟎𝟏𝟖 𝐁𝐢𝐭𝐂𝐨𝐧𝐧𝐞𝐜𝐭 𝐟𝐫𝐚𝐮𝐝 𝐜𝐚𝐬𝐞 , the Court questioned why the Indian government still hasn’t brought in any proper rules for #Crypto.
The case is about a man accused of abducting BitConnect staff and extorting 𝟐,𝟎𝟗𝟏 $BTC , 𝟏𝟏,𝟎𝟎𝟎 #L𝐓𝐂, 𝐚𝐧𝐝 ₹𝟏𝟒.𝟓 𝐜𝐫𝐨𝐫𝐞 in cash to recover his investment losses.
The court also pointed out that taxing crypto profits at 30% shows that it is legal, so why not regulate it properly?
The central government has been asked to respond and provide an update on its stance by July.
For now, the investigation into the case continues and will be reviewed again on May 30.
Now even the Supreme Court is tired and can't help users because there are no clear regulations about Crypto.