India’s Supreme Court has drawn parallels between unregulated Bitcoin trading and a refined hawala system. This comparison highlights the court’s frustration with the government’s ongoing failure to provide clear regulations for cryptocurrency. The judges pointed out that this lack of regulatory guidance persists despite repeated requests from judicial bodies over the past two years. The urgent need for structured regulations is critical for ensuring protections for investors and the overall integrity of the crypto market. The court’s remarks accentuate the disconnect between the rapid growth of cryptocurrency and the slow regulatory adaptation to it.