India’s Supreme Court Just Compared Bitcoin to Hawala: What Now?
India’s top court urges urgent crypto regulations, hinting at economic risks and misuse if left unchecked.
In a bold move on May 20, 2025, India’s Supreme Court voiced strong concerns over the country’s lack of proper crypto regulation. Calling the current system “more or less like a hawala business” (an informal, often illegal value transfer system), the court questioned why the government taxes crypto profits at 30% without a clear regulatory structure.
This signals a significant shift in India’s approach to digital assets. Instead of banning cryptocurrencies, the court advocates for structured rules to monitor crypto activity, protect investors, and prevent illicit use. For crypto investors, this could mean more legal clarity—but also more scrutiny.
If regulations are introduced, we could see increased legitimacy for crypto in India, attracting institutional players. However, tighter rules may also restrict the freedom many traders currently enjoy.
