Cryptocurrencies Akin To Ponzi Schemes, Need To Be Banned: RBI Deputy Governor
2 years, 10 months ago

Cryptocurrencies Akin To Ponzi Schemes, Need To Be Banned: RBI Deputy Governor

ABP News  

Mumbai: Making a strong case for banning cryptocurrencies, Reserve Bank Deputy Governor T Rabi Sankar on Monday said they are even worse than Ponzi schemes and threaten the financial sovereignty of a country. Observing that crypto-technology is underpinned by a philosophy to evade government controls, he said they have been specifically developed to bypass the regulated financial system. "They threaten the financial sovereignty of a country and make it susceptible to strategic manipulation by private corporates creating these currencies or governments that control them.We have examined the arguments proffered by those advocating that cryptocurrencies should be regulated and found that none of them stand up to basic scrutiny," he said. The senior RBI official further said global "It would serve us well if the understanding about cryptocurrencies goes beyond the hype and gets rooted in reason and pragmatism," he added.

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History of this topic

RBI Governor Shantikanta Das Warns of Huge Risks to Financial Stability from Cryptocurrencies
1 month, 4 weeks ago

RBI Governor Shantikanta Das Warns of Huge Risks to Financial Stability from Cryptocurrencies

New Indian Express  

RBI Governor Shantikanta Das expresses concerns about cryptocurrencies, stating that they pose significant risks to financial stability. He argues that cryptocurrencies have the characteristics of money and could undermine the central bank's control over the monetary system. Das emphasizes the need for careful consideration and a cautious approach towards cryptocurrencies, considering the potential for instability and financial sector instability.

As G-20 plans crypto regulatory framework, India may shelve plan for outright ban
1 year, 3 months ago

As G-20 plans crypto regulatory framework, India may shelve plan for outright ban

The Hindu  

With the G-20 countries agreeing to explore a coordinated regulatory framework for crypto assets, India could wait a while longer before firming up its domestic regulations for crypto currencies, and initiate a dialogue with stakeholders on the way forward. Any country can allow higher risks if they want, or ban it if they like, but whatever one does, it should …

Govt Has No Intention Of Legalising Cryptocurrencies, Says Pakistan Minister
1 year, 7 months ago

Govt Has No Intention Of Legalising Cryptocurrencies, Says Pakistan Minister

News 18  

Cryptocurrencies have been banned in Pakistan as per the decision of the Senate Standing Committee on Financial Affairs. However, officials from the State Bank of Pakistan believe that cryptocurrencies are fraudulent means, which will never be acknowledged in the country. These officials have further stated that Pakistan’s Federal Investigation Agency and Financial Monitoring Unit are implementing stringent measures to combat …

G20 exploring cryptocurrency regulation, says India's Finance Minister Sitharaman
1 year, 10 months ago

G20 exploring cryptocurrency regulation, says India's Finance Minister Sitharaman

Firstpost  

Prime Minister Narendra Modi’s government has for several years debated drafting a law to regulate or even ban cryptocurrencies but has not made a final decision The Group of 20 big economies is exploring whether the group could collectively regulate cryptocurrencies, Finance Minister Nirmala Sitharaman said on Saturday. Given the sophisticated technologies involved with these virtual assets, countries must discuss …

Private cryptocurrencies can cause next financial crisis if allowed to grow, warns RBI Governor
2 years ago

Private cryptocurrencies can cause next financial crisis if allowed to grow, warns RBI Governor

The Hindu  

Pressing for the prohibition of instruments like Bitcoin, Reserve Bank Governor Shaktikanta Das on Wednesday warned that the next financial crisis can be triggered by private cryptocurrencies, if such speculative instruments are allowed to grow. "It's a 100% speculative activity, and I would still hold the view that it should be prohibited if you try to regulate it and allow …

Understanding cryptocurrencies
2 years, 5 months ago

Understanding cryptocurrencies

Hindustan Times  

There is a need for a broader international collaboration before cryptocurrency regulations can be drawn up in India, finance minister Nirmala Sitharaman told Parliament this week. In May, an entire currency — known as the Terra/Luna stablecoin pair — and a crypto-based lending platform known as Celsius crashed, wiping out tens of millions of dollars of wealth. Searching with just …

RBI wants govt to prohibit cryptocurrencies: FM Sitharaman
2 years, 5 months ago

RBI wants govt to prohibit cryptocurrencies: FM Sitharaman

India TV News  

Highlights Nirmala Sitharaman said RBI has expressed concerns over cryptocurrencies "They should be prohibited as they can have destabilising effects on monetary and fiscal stability" The RBI mentioned that cryptocurrencies are not a currency Finance Minister Nirmala Sitharaman on Monday said the RBI has expressed concerns over cryptocurrencies saying that they should be prohibited as they can have destabilising effects …

Cryptocurrencies 'clear danger', says RBI Governor Shaktikanta Das
2 years, 5 months ago

Cryptocurrencies 'clear danger', says RBI Governor Shaktikanta Das

Firstpost  

This comes in the backdrop of the government finalising a consultation paper on cryptocurrencies after gathering inputs from various stakeholders and institutions Mumbai: Reserve Bank Governor Shaktikanta Das on Thursday described cryptocurrencies as “clear danger” and said that anything that derives value based on make believe, without any underlying, is just speculation under a sophisticated name. In the foreword to …

Cryptocurrencies clear danger, says RBI Governor
2 years, 5 months ago

Cryptocurrencies clear danger, says RBI Governor

The Hindu  

The government is in the process of finalising a consultation paper on cryptocurrencies after gathering inputs from various stakeholders and institutions. In the foreword to the 25th issue of the Financial Stability Report released on Thursday, Das also said that as the financial system gets increasingly digitalised, cyber risks are growing and need special attention. In the foreword of the …

Cryptocurrency Has No Underlying Value: RBI Governor Clears India's Stance on Cryptos
2 years, 7 months ago

Cryptocurrency Has No Underlying Value: RBI Governor Clears India's Stance on Cryptos

News 18  

India’s stance on cryptocurrencies has not always been much accommodative, and Reserve bank of India governor Shaktikanta Das on Monday, May 23, made it clear once again. Shaktikanta Das said people would have raised questions after the cryptocurrency market crash had the RBI been regulating the digital assets by now. Shaktiknta Das also said that he believes that that the …

Cryptocurrency to be banned in India? What we know so far
2 years, 10 months ago

Cryptocurrency to be banned in India? What we know so far

India Today  

The question over the legality of cryptocurrencies in India has garnered eyeballs, especially after the government's move to tax virtual digital assets. Apart from providing clarity on taxation on virtual digital assets, Union Finance Minister Nirmala Sitharaman and top officials of the government have given statements on the future of cryptocurrency in the country. The proposed bill TAXATION ON VIRTUAL …

Cryptocurrencies worse than Ponzi schemes, banning them advisable: RBI Deputy Governor
2 years, 10 months ago

Cryptocurrencies worse than Ponzi schemes, banning them advisable: RBI Deputy Governor

India Today  

Reserve Bank of India Deputy Governor T Rabi Sankar on Monday said that banning cryptocurrencies is the most advisable choice for India as they are akin to Ponzi schemes and "may even be worse". FM Nirmala Sitharaman replies Rabi Sankar said that cryptocurrencies can wreck the currency system, the monetary authority, the banking system, and in general, the government’s ability …

Banning cryptocurrency perhaps most advisable choice open to India: RBI Deputy Governor
2 years, 10 months ago

Banning cryptocurrency perhaps most advisable choice open to India: RBI Deputy Governor

India TV News  

Highlights Banning cryptocurrency is perhaps the most advisable choice open to India, says RBI Deputy Governor Crypto-technology is underpinned by a philosophy to evade government controls, he said Cryptocurrencies developed to bypass regulated financial system, RBI Deputy Guv said Banning cryptocurrency is perhaps the most advisable choice open to India, said RBI Deputy Governor T Rabi Sankar adding they have …

Cryptocurrencies to be banned in India? FM Nirmala Sitharaman replies
2 years, 10 months ago

Cryptocurrencies to be banned in India? FM Nirmala Sitharaman replies

India Today  

Finance Minister Nirmala Sitharaman on Friday said that a decision on "banning or not banning" cryptocurrencies will be taken after consultations. She also said that the government's move to levy a 30 per cent tax on gains from cryptocurrencies has nothing to do with the legality of private digital currencies in the market. "Banning or not banning cryptocurrencies will come …

Invest at your own risk, RBI Governor's message to cryptocurrency investors
2 years, 10 months ago

Invest at your own risk, RBI Governor's message to cryptocurrency investors

India Today  

Reserve Bank of India Governor Shaktikanta Das on Thursday sounded a note of caution over the cryptocurrency, saying it poses a threat to financial stability. CRYPTOCURRENCY PRIVATELY CREATED The RBI Governor said that Cryptocurrency is privately created. "Cryptocurrency is privately created and it is a threat to financial stability," said the RBI Governor. Using a historical context to make a …

Cryptocurrencies are threat to macroeconomic and financial stability, warns RBI governor
2 years, 10 months ago

Cryptocurrencies are threat to macroeconomic and financial stability, warns RBI governor

India TV News  

Highlights RBI Guv Shaktikanta Das said cryptocurrencies are threat to macroeconomic, financial stability. RBI Governor Shaktikanta Das on Thursday made it clear that private cryptocurrencies are a threat to macroeconomic and financial stability, and undermine its ability to deal with challenges on the two fronts. Private cryptocurrencies or whatever name you call it are a threat to our macroeconomic stability …

As of 2021, Over 50 Countries Have Bans on Cryptocurrency
2 years, 11 months ago

As of 2021, Over 50 Countries Have Bans on Cryptocurrency

News 18  

Cryptocurrencies gained extraordinary popularity in 2021. In May 2021, the Asian country decided to ban Chinese financial institutions from providing services relating to cryptocurrencies. According to the Law Library of Congress report of November 2021, 51 countries have taken the step of banning cryptocurrencies, either implicitly or absolutely. In its report, the Law Library of Congress lists 103 countries that …

Private cryptocurrencies pose immediate risks to customer protection, prone to frauds: RBI
2 years, 11 months ago

Private cryptocurrencies pose immediate risks to customer protection, prone to frauds: RBI

The Hindu  

Private cryptocurrencies pose immediate risks to customer protection and are prone to frauds and extreme price volatility, given their highly speculative nature, the Reserve Bank of India said in its financial stability report released on Wednesday. The latest report noted that the proliferation of private cryptocurrencies across the globe has sensitised regulators and governments to the associated risks. "Private cryptocurrencies …

Private Cryptocurrencies Pose Immediate Risks to Customer Protection, Says RBI
2 years, 11 months ago

Private Cryptocurrencies Pose Immediate Risks to Customer Protection, Says RBI

News 18  

Mumbai, Dec 29: Private cryptocurrencies pose immediate risks to customer protection and are prone to frauds and extreme price volatility, given their highly speculative nature, the Reserve Bank of India said in its financial stability report released on Wednesday. The latest report noted that the proliferation of private cryptocurrencies across the globe has sensitised regulators and governments to the associated …

Neither ban nor regulate crypto
3 years ago

Neither ban nor regulate crypto

The Hindu  

“India has officially adopted bitcoin as legal tender,” tweeted the Prime Minister at 2 a.m. on December 12. For now, the Indian government must be explicit that India will never recognise cryptocurrencies as currency. The argument for regulating cryptocurrencies is the notion that millions of investors indulge in risky cryptocurrency trading which can cause losses, increase volatility, spur shadow finance …

Cryptocurrency: 5 questions crypto investors are asking from government before likely ban
3 years ago

Cryptocurrency: 5 questions crypto investors are asking from government before likely ban

India TV News  

With India preparing to introduce the much-anticipated Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, in the ongoing Winter Session of the Parliament, all eyes are on what will happen to the investors' hard-earned money once the ban on all private cryptocurrencies comes into effect. Although Finance Minister Nirmala Sitharaman informed the Parliament that the government has no proposal …

Be aware of bitcoin, other cryptocurrencies
3 years ago

Be aware of bitcoin, other cryptocurrencies

The Hindu  

Virtual currencies created using blockchain technology have been the subject of great speculation and discussion in recent times. Legendary investors Charlie Munger and Warren Buffet have gone as far as to call Bitcoin and other cryptocurrencies ‘rat poison.’ Before debating on whether to ban private cryptocurrency, it is prudent first to understand what cryptocurrencies are. Private cryptocurrencies being adopted as …

Govt may not ban cryptocurrencies, regulation likely: Reports
3 years ago

Govt may not ban cryptocurrencies, regulation likely: Reports

India Today  

Cryptocurrencies may not be completely banned in India and the government may create a framework to regulate highly risky virtual assets, as per multiple reports. The development comes at a crucial time as the government’s upcoming cryptocurrency bill has spooked investors and other stakeholders. Read | Cryptocurrency Bill: Raining on India's crypto parade A few days ago, Finance Minister Nirmala …

Unregulated Cryptocurrency Can Become a Safe Mode of Transaction for Scamsters, Terrorists
3 years ago

Unregulated Cryptocurrency Can Become a Safe Mode of Transaction for Scamsters, Terrorists

News 18  

Finance Minister Nirmala Sitharaman on Monday made it clear on the floor of Parliament during the ongoing Winter Session that the government has no plans to recognise Bitcoin as a currency. Although cryptocurrency looks like a lucrative investment option at first, there is no running away from the fact that cryptocurrencies are still illegal in India and in most big …

Don’t ban cryptocurrencies, instead set up a regulatory body
3 years ago

Don’t ban cryptocurrencies, instead set up a regulatory body

Firstpost  

The potential of crypto is enormous and banning it would be throwing the baby out with the bathwater Whether you are for or against bitcoins and cryptocurrencies, you cannot deny their importance as an evolution in money and banking. There are approximately 150-200 million crypto users worldwide and about 15-20 million in India, according to Nischal Shetty, CEO of WazirX. …

Why regulating cryptocurrencies is a big challenge for govt | OPINION
3 years ago

Why regulating cryptocurrencies is a big challenge for govt | OPINION

India Today  

Much has been debated over the cryptocurrencies that has posed a significant regulatory challenge to policymakers. As free people of free nations, one is free to buy anything that they want with their tax-paid money, and hence people are free to buy cryptos. But why did the rest of the world give credence to such a currency, to the extent …

Regulation, not ban: on cryptocurrencies
3 years ago

Regulation, not ban: on cryptocurrencies

The Hindu  

Eight years after the RBI issued its first advisory cautioning holders of virtual currencies about the potential financial and security risks, and two years after drafting a Bill to ban cryptocurrencies, the Government is set to introduce legislation that would, if passed, officially proscribe such currencies. Prime Minister Narendra Modi had in a video address to the Sydney Dialogue earlier …

Is A Blanket Ban Possible On Cryptocurrency In India? Know How It May Impact
3 years ago

Is A Blanket Ban Possible On Cryptocurrency In India? Know How It May Impact

ABP News  

New Delhi: Everyone speculating a ban on cryptocurrencies in India may take it easy as the government is set to introduce a Bill in the upcoming winter session of Parliament which, if passed, will only ban the ‘private’ digital currencies. Investors trading in Bitcoin, Ethereum, and the likes may not be worried because these are public blockchain-based cryptocurrencies, which offer …

Cryptocurrency ban in India: What are Private coins? All you need to know
3 years ago

Cryptocurrency ban in India: What are Private coins? All you need to know

India TV News  

Highlights Govt will table Cryptocurrency and Regulation of Official Digital Currency Bill in Parliament. Meanwhile, Speaking to India Tv on private cryptocurrencies, Hitesh Malviya, founder of ItsBlockchain, said 'banning such privately owned cryptocurrencies is a good move." In my understanding, bitcoin, ethereum, and other popular cryptocurrencies are not controlled or managed by any private entities, transactions are on the public …

Many crypto firms may look to exit India amid possibility of ban: Report
3 years ago

Many crypto firms may look to exit India amid possibility of ban: Report

India Today  

Several cryptocurrency startups and blockchain-related startups may look to move out of India amid the possibility of a ban on virtual coins. While it is still not certain whether the government’s bill is aimed at enforcing a ban on cryptocurrencies, it has caused panic among Indian investors and businesses involving blockchain technology and virtual coins. Here's what experts say Speaking …

No Ban, Govt Regulating Cryptocurrency to Check Role in 'Hawala', Terror Funding: Sources
3 years, 1 month ago

No Ban, Govt Regulating Cryptocurrency to Check Role in 'Hawala', Terror Funding: Sources

News 18  

The Centre’s move to bring a bill in the upcoming Winter Session of Parliament to regulate cryptocurrency has sparked a ripple effect, with bitcoin prices crashing to the lowest in a month. The government is concerned about the underground transactions happening against cryptocurrency — particularly its role in ‘hawala’ and terror funding,” they said. It was then also discussed that …

Govt to move bill in Parliament to ban crypto-currencies
3 years, 1 month ago

Govt to move bill in Parliament to ban crypto-currencies

Live Mint  

Days after Reserve Bank of India governor Shaktikanta Das sounded alarm on crypto-currencies warning very serious risk it poses for macro economy and financial stability of the country, the government’s legislative agenda for the upcoming winter session of Parliament showed it plans to ban private crypto-currencies such as bitcoin. Government is set to introduce “The Cryptocurrency and Regulation of Official …

Regulating cryptocurrencies: Treating them as speculative assets
3 years, 1 month ago

Regulating cryptocurrencies: Treating them as speculative assets

The Hindu  

The story so far: The Union Government is said to be considering a proposal to tax cryptocurrency transactions in the country. THE GIST With cryptocurrencies such as Bitcoin gaining popularity among citizens, the Centre has been compelled to take a stance on the legal status of these private currencies. The Centre might not be so keen on banning private cryptocurrencies …

Crypto Ban Unlikely in India, but Government to Discourage Trade: See Details of Plan
3 years, 1 month ago

Crypto Ban Unlikely in India, but Government to Discourage Trade: See Details of Plan

News 18  

The cryptocurrency market has been blooming silently in India over the past several months and after repeated concerns raised by the Reserve Bank of India, the Centre has taken note of the issue. This is because the government wants to evolve as the world changes everyday, Prime Minister Narendra clearly said during a virtual keynote address at the Sydney Dialogue …

Bitcoin Ban in India: What Experts Say on Crypto Future in Country Amid Govt Plans
3 years, 1 month ago

Bitcoin Ban in India: What Experts Say on Crypto Future in Country Amid Govt Plans

News 18  

India has recently taken a more keen note on cryptocurrencies, thanks to its robust growth in the country amid a lack of regulations. On Thursday, November 18, Prime Minister Narendra Modi said cryptocurrencies must not fall into the “wrong hands and spoil our youth”, urging all democratic nations to come together and ensure things like these do not happen. Speaking …

RBI Governor Raises Doubt Over Cryptocurrency Market Value, Says 'Investors Look Exaggerated'
3 years, 1 month ago

RBI Governor Raises Doubt Over Cryptocurrency Market Value, Says 'Investors Look Exaggerated'

ABP News  

New Delhi: Reiterating opposition, Governor of the Reserve Bank of India, Shaktikanta Das on Wednesday said that cryptocurrencies pose a serious threat to the financial stability in the country, reported PTI. Shaktikanta Das said that cryptocurrencies being unregulated by any central bank or authorities is a serious threat to any financial system. Expressing his doubts over the number of cryptocurrency …

RBI governor Shaktikanta Das says cryptocurrencies are serious threat to any financial system till they are regulated
3 years, 1 month ago

RBI governor Shaktikanta Das says cryptocurrencies are serious threat to any financial system till they are regulated

India Today  

RBI governor Shaktikanta Das has once again underlined the concerns around cryptocurrencies, calling them a threat to any financial system, at least till they are regulated. He said that cryptocurrencies are serious threats to the macroeconomic and financial stability of the country and also doubted the number of investors trading on them as well as their claimed market value. But …

Government unlikely to ban Bitcoin and other cryptocurrencies, finding middle path
3 years, 1 month ago

Government unlikely to ban Bitcoin and other cryptocurrencies, finding middle path

India Today  

The Indian government was really close to imposing a blanket ban on cryptocurrencies last year. According to a report by Economic Times, the government is now considering making cryptocurrencies a digital asset and introducing regulations to safeguard investors. The government believes that Indian investors have put large volumes of investments in cryptocurrencies to outrightly ban them. If the bill is …

Explained | Why are so many investors rallying behind bitcoin?
3 years, 1 month ago

Explained | Why are so many investors rallying behind bitcoin?

The Hindu  

The story so far: Bitcoin, the most popular private cryptocurrency in the world, has been rallying this year, hitting an all-time high of over $66,000 last week. Bitcoin enthusiasts see the rise in the price as a validation of their belief that private cryptocurrencies are a viable alternative to fiat currencies such as the dollar and the rupee. Their core …

India's Crypto Quandary
3 years, 4 months ago

India's Crypto Quandary

Live Law  

The recent boom in the cryptocurrency industry worldwide has encouraged countries to evolve the legal landscape that governs virtual currencies. However, a new bill titled 'The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021' that reaffirms the ban, is ready to be tabled in the monsoon session of the Parliament. A rundown of crypto related concerns Considering that India …

As Centre readies cryptocurrency bill for Parliament's Monsoon Session, here's what you need to know
3 years, 5 months ago

As Centre readies cryptocurrency bill for Parliament's Monsoon Session, here's what you need to know

Firstpost  

The government has talked about banning all cryptocurrencies in India but that has not stopped millions of Indians from trading in the digital asset After narrowly missing out on being tabled in the Budget Session of Parliament earlier this year, the cryptocurrency bill is reportedly ready for being taken up for debate during the upcoming Monsoon Session. In a bulletin …

Why India Has A Love-Hate Relationship With Cryptocurrency
3 years, 6 months ago

Why India Has A Love-Hate Relationship With Cryptocurrency

News 18  

The value of one Bitcoin, the first and the largest cryptocurrency, is hovering around Rs 27 lakh. In March last year, the Supreme Court had struck down a 2018 circular by the Reserve Bank of India to banks and financial institutions saying they should desist from facilitating transactions involving cryptocurrencies. “In view of the order of the Hon’ble Supreme Court, …

WazirX, CoinSwitch And ZebPay's Banking Troubles Highlight Urgent Need For Cryptocurrency Guidelines
3 years, 7 months ago

WazirX, CoinSwitch And ZebPay's Banking Troubles Highlight Urgent Need For Cryptocurrency Guidelines

News 18  

Over the past few days, things have become quite complicated for apps that allow users to buy and sell cryptocurrency in India and also for those who are investing in cryptocurrencies such as Bitcoin, Ethereum, Cardano, Dogecoin and others. Over the past few days, Paytm Bank has taken back support for banking services from three popular cryptocurrency trading apps in …

Banks Wary of Crypto Trades: A Step Towards Crypto Ban in India?
3 years, 7 months ago

Banks Wary of Crypto Trades: A Step Towards Crypto Ban in India?

The Quint  

The move of ICICI blocking transaction related to cryptocurrencies has come after a report published by Reuters on 14 March, which states that trading, mining and holding cryptocurrency could soon be illegal in India as the Indian government is proposing a new Bill that could ban all transactions related to cryptocurrencies. According to a report by Reuters, the new Bill …

What India’s proposed cryptocurrency ban means for Bitcoin investors
3 years, 8 months ago

What India’s proposed cryptocurrency ban means for Bitcoin investors

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. However, while banning private digital currencies, the country’s central …

Turkey bans Bitcoin and other crypto coins for payments, will India follow?
3 years, 8 months ago

Turkey bans Bitcoin and other crypto coins for payments, will India follow?

India Today  

Turkey’s central bank has banned the use of cryptocurrencies and crypto assets including Bitcoin to purchase goods and services, citing possible "irreparable" damage and significant transaction risks. In a statement, the central bank said crypto assets were "neither subject to any regulation and supervision mechanisms nor a central regulatory authority," among other security risks. "Payment service providers will not be …

India to propose cryptocurrency ban, penalising miners, traders
3 years, 9 months ago

India to propose cryptocurrency ban, penalising miners, traders

The Hindu  

India will propose a law banning cryptocurrencies, fining anyone trading in the country or even holding such digital assets, a senior government official told Reuters in a potential blow to millions of investors piling into the red-hot asset class. The bill, one of the world's strictest policies against cryptocurrencies, would criminalise possession, issuance,mining, trading and transferring crypto-assets, said the official, …

India to Propose Cryptocurrency Ban, Penalising Miners, Traders: Report
3 years, 9 months ago

India to Propose Cryptocurrency Ban, Penalising Miners, Traders: Report

News 18  

India will propose a law banning cryptocurrencies, fining anyone trading in the country or even holding such digital assets, a senior government official told Reuters in a potential blow to millions of investors piling into the red-hot asset class. The bill, one of the world’s strictest policies against cryptocurrencies, would criminalise possession, issuance, mining, trading and transferring crypto-assets, said the …

India is set to ban Bitcoin, Dogecoin and other crypto money with move that targets miners and traders
3 years, 9 months ago

India is set to ban Bitcoin, Dogecoin and other crypto money with move that targets miners and traders

India Today  

The uncertainty around cryptocurrencies in India continues as the government is now planning to propose a new bill which will not only ban digital money but will also fine anyone trading in the country or even holding such digital assets. The new bill proposes to criminalise possession, issuance, mining, trading and transferring crypto-assets, a senior government official told Reuters. World’s …

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