India supports the supervision of bitcoin

India supports the supervision of bitcoin


According to local media reports, BivasChatterjee on Friday in a Calcutta court filed a public interest litigation, immediately start the flow of bitcoin in India supervision.

In his petition in Chatterjee suggested that the money is mainly used for encryption an improper purpose, should be like in the Chinese as soon as regulated or prohibited. He said:

When the cashless economy improve when the use of bitcoin in India is maximized. Law enforcement agencies are confused, or the government should ban bitcoin, or like the way China announced that it is illegal, or there must be a regulatory mechanism to control the flow of bitcoins.

The anonymity problem

According to the advocate that bitcoin is particularly difficult to trace, which makes it become the preferred tool for illegal financial transactions. He said:

“Encryption and anonymous monetary commitments for rapid transfer of funds at low cost. These transactions are very difficult to track the currency is the perfect crime promoter encryption. The crime of encryption currency or bitcoin involved in the investigation of the investigation, authorities are facing some obstacles.”

The Chatterjee statement reflects a belief that bitcoin and other encryption currency has the instability and anonymity of the government, so the government is unable to supervise them, some people even called it a “Ponzi scheme”.

However, like Japan and other economies have bitcoin as the future of payments.

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