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Proposed India bill banning crypto payments could mean jail for violations: Report
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livemint.comProposed legislation that would ban the use of cryptocurrencies as a method of payment in India also seeks to make those who infringe the law subject to arrest without a warrant and being held without bail, according to a source and a summary of the bill seen by Reuters.
Prime Minister Narendra Modi's government has previously flagged that it plans to ban most cryptocurrencies - a move which follows measures by China this September that intensified its crackdown on cryptocurrencies.
According the summary of the bill, the Indian government is planning a "general prohibition on all activities by any individual on mining, generating, holding, selling, (or) dealing" in digital currencies as a "medium of exchange, store of value and a unit of
Read more on livemint.comAbout this in other media
India is said to consider capital markets regulator for crypto economictimes.indiatimes.com /2 years ago
Crypto Violators May Face Prison Time Under India’s New Proposal - Report cryptonews.com /2 years ago
Proposed India bill banning crypto payments could mean jail for violations business-standard.com /2 years ago
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