India's Ruling Party Accused of Involvement in 'Mega Bitcoin Scam'

The Indian National Congress (INC) party, the largest political party in the nation, is accusing the ruling Bharatiya Janta Party (BJP) of money laundering through bitcoin.

INC, more commonly known as the Congress Party, alleged Thursday that the BJP was converting "black money" using bitcoin in the Western state of Gujurat, the English-language daily newspaper Hindustan Times reported. Further, the party called for the Indian Supreme Court to launch a probe to monitor the investigation.

According to the report, INC spokesperson Shaktisinh Gohil alleged that BJP "leadership was involved in converting black money through" the bitcoin scam, which is allegedly worth between $727 million and $12.79 billion.

Gohil told the reporters:

He added that by using bitcoin, certain leaders at BJP were able to convert their "black money" to other businessmen in the state. However, the BJP denied the allegations, saying the Congress Party's "dirty tricks department" was simply trying to "spread confusion and lies."

Indeed, BJP spokesperson Anil Baluni seemed to imply that the INC may have an ulterior motive in accusing the ruling party of laundering the funds.

"I wonder if the Congress is trying to help somebody in this case as part of a conspiracy," he said.