According to a major right-wing Hindu organization affiliated with India’s ruling party, limitations on streaming platforms and cryptocurrencies are necessary, and that control is important.
In order to serve the greater benefit of the society, Mohan Bhagwat, chairman of the Rashtriya Swayamsevak Sangh — the ideological parent of Prime Minister Narendra Modi’s Bharatiya Janata Party — has called for the regularization of these activities.
Lawsuits and criminal investigations have been filed against streaming providers such as Netflix and Amazon’s Prime Video, particularly in BJP-ruled states, for content that has been deemed inflammatory and objectionable to the country’s majority Hindu population.
Official says government must “do it”
Amazon, Walt Disney Co, Netflix and another major streaming platform in India, did not immediately respond to requests for comment. It was not possible to get in touch with Bitcoin or the Indian Association of Blockchain & Crypto Entrepreneurs right away.
In a speech marking the Hindu festival of Dussehra on Friday, Bhagwat said that he didn’t know what country controlled bitcoin or what rules governed it. “The government should do it. It has to do it,” he said.
India has 10 million crypto owners
According to BrokerChooser, a broker discovery and comparison website, India has the biggest number of cryptocurrency owners in the world, with 10 million individuals.
In terms of policy guidance, Modi’s government frequently leans to Hindu organizations, but it has abstained from regulating streaming platforms. Movies and television shows, on the other hand, must be approved by a censor board.
Prior to the start of this year, the administration developed but did not submit, a measure to parliament that would have prohibited the trade and possession of cryptocurrencies.
Image courtesy of Cointelegraph News/YouTube