Right-wing Indian group calls for stricter crypto regulations


Mohan Bhagwat, Chairman of the Rashtriya Swayamsevak Sangh, ORSS – the right-wing Hindu nationalist community – has called on the Indian government to pursue crypto regulation “for the public good”.

As reported by Asian News International, the RSS Director made the remarks during his speech on the occasion of the Dussehra Hindu Festival.

Despite numerous reports of an imminent cryptocurrency ban, government sources claim that stakeholders are choosing to create a framework to regulate the market.

Even a coalition of crypto-supporters managed to get a Supreme Court ruling to overturn a previous central bank ban that had prevented banks from offering cryptocurrency exchange services.

Bhagwat’s comments come amid reports of the growing popularity of cryptocurrencies in India, despite the lack of a clear regulatory framework for cryptocurrencies and numerous reports of a possible ban on virtual currencies.

In September, Cointelegraph reported that Indian crypto exchanges were preparing targeted advertising campaigns in preparation for the holiday season. However, such content may require adherence to an opt-out policy that informs viewers of the risks associated with investing in cryptocurrencies.

The growing popularity of cryptocurrencies has also reached India’s entertainment sector, with Bollywood stars like Amitabh Bachchan launching their own cryptocurrencies or supporting major exchanges in the country.

On this topic: The Central Bank of India continues to oppose cryptocurrency, reiterating the “steadiness” of its position.

Bhagwat’s position may indicate conservative opposition to the spread of cryptocurrency among more liberal sections of Indian society.

In fact, the RSS executive also criticized streaming platforms for not censoring some of their content from underage viewers.

Bhagwat said drug use was on the rise and that money circulating in these markets was being used to promote “anti-patriotic activities”.



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