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India Cracking Down On Cryptocurrency

Roland James

Summary: Lawmakers in India a putting forth a proposed deal that would give a 10-year prison sentence to any citizen who is caught dealing with cryptocurrency. This new law is a part of the newly proposed “Banning Cryptocurrencies and Regulation of Official Digital Currency Bill 2019,” according to The Block. The regulations apply to anyone dealing ...

Lawmakers in India a putting forth a proposed deal that would give a 10-year prison sentence to any citizen who is caught dealing with cryptocurrency. This new law is a part of the newly proposed “Banning Cryptocurrencies and Regulation of Official Digital Currency Bill 2019,” according to The Block. The regulations apply to anyone dealing with cryptocurrency whether direct or not. If the bill is passed those with any cryptocurrency assets will have to declare and dispose of their assets in 90 days.

Author: Roland James

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