The Indian government did not include in the agenda of the winter session the consideration of the bill to ban cryptocurrencies and regulate official digital currencies..
In the summer, the country’s authorities announced that they plan to discuss this project in the period from November 18 to December 13. The bill presupposes not only the introduction of a complete ban on the use of cryptocurrencies, but also the issuance of a digital rupee by the Reserve ATM of India. At the same time, it does not investigate the blockchain and related technologies or applications based on it..
The news of the postponement of consideration of the bill was happily received by the submission of the local crypto community. According to them, this will give additional time to prepare and unite to jointly protect the industry. Some even believe that the government decided not to rush into the ban in order to reconsider its views on the issue..
However, additional time can be used to revise the mechanisms towards tightening. The government proposed to introduce punishment earlier in the process of discussing the bill. up to 10 years in prison for illegal use of virtual assets.
India to BAN Cryptocurrencies…
text: Ivan Malichenko, photo: kremlin
Indian government proposes to jail for 10 years for cryptocurrency
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