People are constantly in for a shock with the way things are turning for cryptocurrency in India. In a latest twist to the series of Bitcoin related events unfolded in the past Congress, the Opposition Party has alleged of Rs. 5,000 Crore Bitcoin Scam in the state of Gujarat. However, if local reports are to be believed, then this fraud is stated to be around 88,000 Crores.
Opposition Asks for a Judicial Probe : –
Seeing that the situation is volatile, the opposition party has demanded a judicial probe in to the matter so that law and order is restored while culprits are given proper punishment. As per Shaktisinh Harishchandrasinh Gohil, Indian politician as well as National Spokesperson of the All India Congress Committee, views, it has been a multi layered scam involving some of the top BJP (Bhartiya Janata Party) leaders.
He goes on to add that mastermind of this particular ‘illegal cryptocurrency’ is none other than former MLA and BJP leader Nalin Kotadiya, who has been directly linked to extortion and other illegal activities according to a CID investigation.
Points to remember : –
Bitcoins, as some of you may be aware, is a digital currency, which purely has all the encrypted techniques in place and is generally used to verify transfer of funds done digitally
(but is not linked in any manner with the Central Bank). In India, however, Bitcoin does not hold any sort of legal status as the Supreme Court of India had announced earlier. However, there is yet to be another hearing on ‘Bitcoins Status in India’ as the Supreme Court, the highest court of justice in the Republic of India has agreed to hear another petition on Bitcoins on 20th July 2018.
BJP’s Refusal : –
BJP’s National Spokesperson, Anil Baluni (who himself is a politician) has however refuted all charges laid by the Congress Spokesperson on Bhartiya Janata Party. He went on to add that it was the local police, which took charge and acted against the culprits involved in illegal activities with Bitcoins as the main cause.
It is yet to see what shall be the outcome of these allegations laid by Congress on the ruling party in the state of Gujarat while fate of Bitcoins in India is to be decided after Supreme Court hears a petition on 20 July 2018.