Indian IAMAI lawyer: new technology has a gray side, and encryption technology also needs active supervision

According to Cointelegraph, the Indian Supreme Court recently heard the "Crypto v. RBI" case, and Ashim Sood, a lawyer for the Indian Internet and Mobile Association (IAMAI), said that active supervision is needed. Sumit Gupta, CEO of Indian cryptocurrency exchange DCX, said he believes Sood has made some good arguments on how the technology works and how to use it, provided that it also emphasizes the need for proper regulation. Regarding the anonymity of virtual currencies, Sood explained the powerful KYC process implemented by various exchanges. He believes that although the industry follows strict self-regulation, it cannot enforce these regulations to some extent, so he emphasizes the importance of active regulation. He said that each new technology has its gray side, however, active regulation to curb negative factors is a current need.