BURNING NEWS✍️ Rajesh
Anybody in India dealing in cryptocurrencies will be sent to jail for 10 years, says a proposal in the draft of Banning of Cryptocurrency and Regulation of Official Digital Currency Bill, 2019. According to a report, the penalty is applicable to those who “mine, generate, hold, sell, transfer, dispose, issue or deal in cryptocurrencies directly or indirectly.”
This dashes any hopes that cryptocurrency will be eventually be regularised in India.
The move is sure to tighten the noose for those who try to transact in cryptocurrencies. This also comes as a setback for various cryptocurrency trading platforms in India that have been eagerly awaiting a positive step in favour of cryptocurrencies from the government.
