In India now if you hold, sell or dealing in cryptocurrencies such as Bitcoin could soon land you in jail for 10 years.
The “Banning of Cryptocurrency and Regulation of Official Digital Currency Bill 2019” draft has proposed 10-year prison sentence for persons who “mine, generate, hold, sell, transfer, dispose of, issue or deal in cryptocurrencies”.
Besides making it completely illegal, the bill makes the holding of cryptos a non-bailable offence.
The draft of Banning of Cryptocurrency and Regulation of Official Digital Currency Bill 2019 has reportedly proposed a 10-year-long prison term for people who “mine, generate, hold, sell, transfer, dispose, issue or deal in cryptocurrencies”.
Given the high chances of buying cryptocurrencies being misused for money laundering, various government bodies such as the Income Tax Department and the Central Board of Indirect Taxes and Customs (CBIC) had endorsed banning of cryptocurrencies.
The draft bill for banning cryptocurrency has been in the works for some time with Economic Affairs Secretary Subhash Chandra Garg leading the exercise.
While strict law would soon be in place to deal with people indulging in the trade of cryptocurrency, India is likely to have its own digital currency.
Very insightful, thank you for keeping us up-to-date on your trading success.
I was excited to find this great site. I want to to thank you for ones time
due to this fantastic read!! I definitely enjoyed every part
of it and i also have you bookmarked to look at new stuff in your website.
Whatever you talk about attacks a nerve to me, thank you for challenging your readers.
You’ve made some good points there. I checked on the
web for more information about the issue and found most individuals will go along
with your views on this web site.
An outstanding share! I have just forwarded this onto a co-worker
who has been doing a little research on this.
And he in fact bought me breakfast due to the fact that I stumbled
upon it for him… lol. So allow me to reword this….
Thanks for the meal!! But yeah, thanx for spending the time to talk
about this subject here on your site.
Good info. Lucky me I came across your site by chance (stumbleupon).
I’ve saved it for later!
Good post. I learn something totally new and challenging on sites I stumbleupon on a daily
basis. It’s always useful to read through content from
other writers and use a little something from other web sites.
Your thinking on trading are really impressive, I am going to drive some of my followers your way.
Greetings! Very useful advice within this post!
It’s the little changes that produce the largest changes.
Thanks for sharing!
Your notions on investment are impressive, I am going to throw several of
my readers to your web site.
Your thoughts on trading are extraordinary, I’m going to drive a handful of my fans to your web site.