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India has moved to ban cryptocurrencies as the government has listed a draft bill that proposes a complete ban on all private cryptocurrencies in the country. India's central government is reviewing key parts of legislation that could ban cryptocurrencies in the country. But why is india going so harsh on cryptocurrencies? China has already banned its mining and trading but does not penalize possession. The government had earlier suggested that it will not impose an outright ban on cryptocurrency in india.
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This brought cryptocurrency trading in india to a halt.
The indian government seeks to propose a law banning cryptocurrencies under which anyone involved in its trading or holding such assets could be fined over the past couple of years, the uncertainty in india around cryptocurrencies, including the popular ones like bitcoin has increased. In india, nearly 8 million investors are holding 100 billion rupees as per the estimates of industry. Given that the removal of the ban had begun to give a strong boost to the development of the crypto sector in india, it is possible that the government has decided to speed up. India plans to introduce a new law banning trade in cryptocurrencies, placing it out of step with other asian economies which have chosen to india's finance ministry spokesman didn't respond to call and a message seeking comments. Indian exchanges launch campaign to avert crypto ban. According to industry estimates, some eight million investors in india now hold 100 billion rupees ($1.4 billion) in. But why is india going so harsh on cryptocurrencies? The reserve bank of india (rbi) wanted to ban the activities related to cryptocurrencies. India might ban private cryptocurrencies like bitcoin and develop a national digital coin. That makes it hard for some people to own or trade bitcoin. China has already banned its mining and trading but does not penalize possession. And who stands to lose more if this regulation goes live? As per the recent data from venture intelligence, investments worth a whopping $24 million have gone into various crypto firms.
The indian finance minister said there would be a calibrated position taken on cryptocurrencies during an interview. It would help the rbi to create an official digital currency. The government had earlier suggested that it will not impose an outright ban on cryptocurrency in india. India's central government is reviewing key parts of legislation that could ban cryptocurrencies in the country. Cryptocurrency ban in india 1 install zebpay get 100 ra fre link.zebpay.com/ref/ref41651841 2 world top exchange(get.
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'the cryptocurrency and regulation of official digital currency bill, 2021' will be introduced in the current legislative.
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India might ban private cryptocurrencies like bitcoin and develop a national digital coin.
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