India is big market for crypto.And scams related to cryptocurrencies (bitcoin and others) have have been on the rise in India.Earlier this year, it was reported that scammers had used a fake Bill Gates quote for a cryptocurrency scam worth $2 million.Indeed, crypto crime has been an issue in the country. In June, Indian police arrested former BitConnectfraudster in connection to a fraudulent enterprise called Liberty Coin that promised investors 5,000-percent returns and did not deliver. Some victims that stepped forward claimed losses of tens of thousands of dollars.
Government of India’s Ministry of Home Affairs is planning to deliver an all-around police training service. Sources are suggesting that the new training service is explicitly going to be paid service. Indian government’s new filing suggests that further police training will deal with cybercrimes related to cryptocurrency.
The two day course, titled “Investigation of Cases Involving Crypto Currencies,” will cover a wide range of educational components, including an introduction to blockchain technology, a discussion of standing legal traditions, and interpretations of major crypto crimes.
The investigative session is scheduled for the first week of September at the National Police Academy in Hyderabad.
Now police will more alert about crypto.India allow crypto but banking in crypto in illegal.We hope it will not harmfull for real investor or other companies.