Indian authorities have reported criminal responsibility for misconduct in the cryptocurrency sector. A specialized cybercrime laboratory was created to control the crypto-activity, as reported by The Hindu, a local news publication.
On February 19, India confirmed the bill on criminal liability for violation of the rules of work in the cryptocurrency business. To analyze fraud and cybercrime tracing, a special department was created (within the framework of the Internet crime control program).
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Indian cybercrime laboratory
On February 19, the Indian Minister of the Interior, Rajnath Singh, told the Hindu agency of criminal responsibility for crimes in the crypto-sector. As part of the state initiative to activate the fight against Internet criminals, a cyber-criminology laboratory was created.
Cyber Protection Awareness and Detection Center (CyPAD) will also be engaged in tracking of illegal actions in the crypto-sphere.
The central offices of the Internet and crypto-regulators have already opened in the city of Delhi. According to the report, the laboratory will operate a special unit that specializes in cryptocurrency.
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"Now we have the technology to recover data from damaged hard drives, cryptocurrency analysis tools for forensic data analysis (...) We can track information about crypto with 33,000 types of mobile models available on the market" – Chief Police Commissioner of the city of Delhi, Amulya Patnaik.
A cybercrime lab was created in India. Recall that in July last year, the Reserve Bank of India imposed a ban on banks serving cryptographic enterprises and firms. Initially, in 2019, the decision was appealed to the country's highest court. Currently, cryptocurrency status in India is in "limbo".
Editor: Pereyidenko Ihor