India will propose a law banning cryptocurrencies (a senior government official)

Author: Eamonn Sheridan | Category: Cryptocurrency

Reuters with the article, citing a senior Indian government official.

India will propose a law banning cryptocurrencies, fining anyone trading in the country or even holding such digital assets
  • bill would criminalise possession, issuance, mining, trading and transferring crypto-assets
  • measure is in line with a January government agenda that called for banning private virtual currencies such as bitcoin while building a framework for an official digital currency
  • bill would give holders of cryptocurrencies up to six months to liquidate
This sounds bizarre, surely this horse has bolted?  China has banned mining and trading, doesn't penalise possession.

But, adds Reuters ...
  • Officials are confident of getting the bill enacted into law as Prime Minister Narendra Modi's government holds a comfortable majority in parliament. 
A thought brak for the folks in India trading cryptos indeed, if it happens.

Meanwhile, BTC update:
Reuters with the article, citing a senior Indian government official.





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