Indian Gov To Educate Top Cops On Cryptocurrencies, Aiming To Investigate Crypto Matters
The Indian government is also set to impose strict norms on crypto trade in the country, a move which could see severe crackdowns. Many crypto companies in India were forced to suspend operations temporarily or, in some cases, end operations completely.
To further its crackdown, and investigate complex crypto companies, the government of India will educate top-level cops with the intention of empowering the force to effectively investigate crypto matters. Crypto related criminal cases are likely to arise as the government is planning to introduce strict regulations on the industry.
Delhi Police Commissioner Amulya Patnaik said that the project is quite unique and is the first time that organizations are taking such efforts to create awareness about cryptocurrencies. Patnaik further added,
We are now equipped with technology to recover data from damaged hard disks, cryptocurrency analysis, malware forensic, and data can be retrieved from 33,000 kinds of mobile models available in the market.
Crypto market, being relatively a new industry, still remains largely unknown to the general public globally. Even regulators, who are voicing to ban digital currencies, themselves have a very limited understanding of crypto. Those regulators which take efforts to learn crypto markets and crypto functioning are is the support of digital coins, like the European Central Bank.
In a country like India, where digitalization is still a beginning, very few people have a thorough understanding of cryptos, and thus the education of officials becomes critical. It may also help the government to find ways to regularize tokens, using inputs of these top cops.