India’s ruling government, the congress, was accused by former rulers Congress after a bitcoin scam amounting to Rs. 5,000 crore ($763 million) surfaced in the state of Gujarat.
The pioneer cryptocurrency remains an illegal tender in India and is frowned upon by regulators. However, the tremendous number of cryptocurrency scams happening in the nation lately makes a perfect reason why they have levied such a stranglehold ban.
Meanwhile, Gohil compared the scam to a “Pandora’s box” and stated “illegal hawala transactions, kidnappings, extortion of cryptocurrency using CBI/police/government authorities at the behest of top BJP leaders in Gujarat is a norm”.