Law enforcement agencies make their best efforts to combat criminals performing drug transactions via the darknet. On August 24, the Indian Narcotics Control Bureau arrested a young man for buying ecstasy pills using Bitcoin.
The outbreak of COVID-19 pandemic triggered the growth of various kinds of fraudulent activity, including that involving cryptocurrency. Despite such activity harming people from all over the world, the citizens of developing countries seem to be more vulnerable.
No one would call the life of the cryptocurrency business in India easy. First, they had to deal with a ban from the country’s Reserve Bank, and then they were hit by the COVID-19 pandemic. However, Indian exchanges manage to withstand everything. Especially after the ban was lifted by the Supreme Court.
The Reserve Bank of India recently announced cryptocurrency is not banned in the country but advised citizens not to rely on it. At the same time, the country seems to be much more friendly towards blockchain, launching a hub in Bengaluru.