Fun

Hindu Paramilitary Group Calls on Indian Government to Regulate Cryptocurrencies

News Feed - 2021-10-19 10:10:53

Hindu Paramilitary Group Calls on Indian Government to Regulate Cryptocurrencies


Hindu nationalist group Rashtriya Swayamsevak Sangh (RSS) has called on the Indian government to regulate cryptocurrencies. “The government has to ensure that it is regulated in the larger interest of the society,” the group reportedly said. Rashtriya Swayamsevak Sangh Calls for Crypto Regulation


Mohan Bhagwat, head of the Rashtriya Swayamsevak Sangh (RSS), said during his speech at an annual event marking the Hindu festival of Dussehra Friday: Clandestine, uncontrolled currency like bitcoin has the potential to destabilize the economy of all countries and pose serious challenges.


The RSS is a Hindu nationalist paramilitary group founded in 1925 by Dr. Keshav Baliram Hedgewar in Nagpur. According to the group’s website, any Hindu male can become a member of the group by attending an RSS shakha, a daily gathering. There is no formal membership procedure and there are no fees to join.


The group’s website further states that the RSS does not keep a record of the number of members. However, it notes that in March 2017, there were 57,185 daily RSS shakhas held at 36,729 places (including rural and urban), in addition to weekly gatherings at 14,896 places and monthly meetings at 7,594 places in Bharat. According to the Muslim Mirror, there are now more than 10 million active RSS members across India and over 100 affiliated bodies. Prime Minister Narendra Modi was also a member of the group.


Bhagwat was also quoted as saying, “I have no idea which country regulates a currency like bitcoin or if there are any rules governing them.” He added: The government has to ensure that it is regulated in the larger interest of the society.


The Indian government is currently working on a cryptocurrency bill. In July, Finance Minister Nirmala Sitharaman said that the crypto bill was ready for the Cabinet. In September, Jayant Sinha, a lawmaker with the ruling Bharatiya Janata Party, revealed that the cryptocurrency legislation will be distinct and unique.


However, the Reserve Bank of India (RBI) continued to have “serious concerns” regarding cryptocurrencies. In addition, the RBI is working on a central bank digital currency (CBDC), which will be launched in phases. The central bank expects to unveil a digital rupee model by the end of the year.


What do you think about the Rashtriya Swayamsevak Sangh calling for Indian crypto regulation? Let us know in the comments section below. Fraud-Accused South African Bitcoin Trader to Turn Himself Over to Police: Report REGULATION | 12 hours ago NY Attorney General Targets 5 Crypto Companies: 2 Lending Platforms Ordered to Shut Down REGULATION | 22 hours ago Tags in this story Crypto regulation, Cryptocurrency regulation, hindu group, india crypto regulation, indian crypto regulation, nationalists, Prime Minister Narendra Modi, Rashtriya Swayamsevak Sangh, rss


Image Credits: Shutterstock, Pixabay, Wiki Commons Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments

News Feed

Post-FTX crypto industry needs education before regulation — Former Biden adviser
Zoltan Vardai12 hours agoPost-FTX crypto industry needs education before regulation — Former Biden adviser“What I preach for is regulation that protects and prevents but does not cripple and destroy [innovation],”
Ethereum Stays Below Realized Price: Once-In-A-Cycle Opportunity?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Elon Musk Endorses Cryptocurrency for Martian Economy
Elon Musk Endorses Cryptocurrency for Martian Economy Spacex and Tesla CEO Elon Musk, widely believed to be the man taking humanity to Mars and building a perman
Chipotle’s ‘Buy the Dip’ Game Plans to Reward Players With $200K in ETH, BTC, SOL, AVAX, and DOGE
Chipotle"s "Buy the Dip" Game Plans to Reward Players With $200K in ETH, BTC, SOL, AVAX, and DOGE Chipotle Mexican Grill, often referred to as simply Chipotle, has announced a new
SUI Forms Inverse Head And Shoulders – Can Bulls Break Above $2.52?
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Adobe rival Procreate bets against gen AI to support human creativity
Pradipta Mukherjee12 hours agoAdobe rival Procreate bets against gen AI to support human creativityIn stark contrast to mainstream competitors, Procreate has said it would not use generative AI features in its products t
Bitcoin bottom in, now headed for a ‘slow grind higher’ — Arthur Hayes
Martin Young3 hours agoBitcoin bottom in, now headed for a ‘slow grind higher’ — Arthur HayesThis week’s 12% Bitcoin retreat was a “well-needed market cleansing,” said the former BitMEX boss.3365 Total views1
DePIN protocol io.net CEO departs 2 days before token launch
Brayden Lindrea6 hours agoDePIN protocol io.net CEO departs 2 days before token launchAhmad Shadid, one of the founders of io.net, left “effective immediately” but said it wasn’t related to allegations regarding hi
Ethereum Has Burned 1.2 Million ETH in 4 Months, Close to $5 Billion in Ether Destroyed
Ethereum Has Burned 1.2 Million ETH in 4 Months, Close to $5 Billion in Ether Destroyed With three days left until the end of 2021, the Ethereum network and its native token ether
Australia’s revamped data program to ‘catch out’ crypto tax cheats
Jesse Coghlan2 hours agoAustralia’s revamped data program to ‘catch out’ crypto tax cheatsThe Australian Tax Office is collecting over a decade of crypto transaction data, and tax dodgers could be busted if they do
Economist Predicts the Fed’s Response to Inflation Will Push Crypto Higher
Economist Predicts the Fed"s Response to Inflation Will Push Crypto Higher Allianz Chief Economic Advisor Mohamed El-Erian says that the Federal Reserve’s response to inflat
Gemini Just Tokenized a Bitcoin-Heavy Stock – 3 of the Best Altcoins to Ride the Wave
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu