The Indian government has been on the move to make India a blockchain powered nation and a place with well-regulated crypto rules. In its recent approach, the Indian government has inaugurated a cyber forensic lab which also has a crypto related analysis lab. A cybercrime unit of Delhi police has been set to deal with various crypto related frauds and crimes.
Delhi Police Commissioner Amulya Patnaik has said that the recent inauguration of the cyber forensic lab which also include a cryptocurrency wing is one of a kind cybercrime and detection center opened in the country.
The National Cyber forensic lab has various units such as
- memory forensics lab,
- image enhancement lab,
- network forensics lab,
- malware forensics lab,
- cryptocurrency forensics lab,
- damaged hard disk and advanced mobile forensics lab
The Delhi police commissioner was quoted,
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. Cyber Experts will train our staff.
India Planning to Regulate Crypto
In recent times, India has become one of the biggest hotspots for globalization and having missed the dot com boom, they don’t want to miss on the blockchain bandwagon. Recently there were reports of Reserve Bank of India finalizing the crypto reforms and if the hypes are to be believed, the central government is looking into creating user-friendly and secure reforms to make crypto mainstream in the country.
BTC Wires has been covering the Indian crypto scene up close and the recent buzz around the crypto and blockchain seems to be positive. However, the election season is nearing and if you know anything about India, most of the promises are made during this time. The establishment of the cyber forensic lab with a cryptocurrency wing is definitely a great sign for the times to come, but we would only be convinced if the reports of crypto reform finalizing are implemented.
India had earlier deemed cryptocurrencies as an unrecognized entity in its financial sector which in simple terms mean that the government does not encourage the use as it is not sure about its security aspect. However, at the moment the government seems to be quite focused on bringing in necessary reforms and regulations in place to make India a crypto competent nation.
Whether the current hype around the crypto and blockchain is just another PR stunt leading up to the elections, we will have to wait and watch. The Lok Sabha elections are scheduled to take place in May this year and only after its commencement, we would finally come to know if cryptocurrencies would be a regulated entity in India or not.