Hindu nationalist group Rashtriya Swayamsevak Sangh Known as (RSS), has asked the Indian government to regulate cryptocurrencies. It is also reported that “the government must ensure that it is regulated in the larger interest of society”. Let’s look at the Muslim Mirror report, there are about 10 million active RSS members across India. There are also 100 affiliated bodies of which Prime Minister Narendra Modi was also a member of the group.
Head of the Rashtriya Swayamsevak Sangh (Mohan Bhagwat) demands Crypto Regulation. And in his speech at an annual event marking the Hindu festival of Dussehra Friday, he said:
Clandestine, uncontrolled currency like bitcoin has the potential to destabilize the economy of all countries and pose serious challenges.
I have no idea which country regulates a currency like bitcoin or if there are any rules governing them.
The government has to ensure that it is regulated in the larger interest of the society.
Currently, the Indian government is working on a cryptocurrency bill and the Reserve Bank of India (RBI) is very concerned about cryptocurrencies. The RBI is also creating a central bank digital currency that will be set up in phases. We have to wait and see what the Indian government decides to regulate cryptocurrencies and what is certain is that the purpose of this bill is that the government has to ensure that it is regulated in the larger interest of society.