Why Bitcoin, cryptocurrencies often face political heat? Virtual currency's legal status, its future explained

Amit intense poll battle in Maharashtra, just a day before crucial voting in the state assembly elections, the Bharatiya Janata Party alleged National Congress Party (Sharad Pawar) leader Supriya Sule and state Congress chief Nana Patole's involvement in a cryptocurrency fraud. The allegations created a huge political outrage in the poll-bound state, prompting Sule to file a complaint with the Elections Commission of India (ECI). However, this is not the first time cryptocurrencies made headlines for the wrong reasons. Earlier, the Bitcoin scam created upheaval in Karnataka politics. It is also alleged that ban organisations do transactions in cryptocurrencies to skip enforcement agencies. Bitcoin or other cryptocurrencies become a soft political target as there is no one to take accountability for the virtual currency. Since it is yet to be regularised, it is seen in the wrong light and politicians attack rivals for involvement in its transitions which are difficult to trace or cross-check the allegations.

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