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India “Regulating” Cryptocurrencies

India is reportedly “regulating” cryptocurrencies.

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SEBI (Securities and Exchange Board of India, similar to the SEC in US) will be regulating.

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This is one thing which they plan to implement:

*The note also reportedly highlights that citizens will need to declare their crypto assets and keep them on Indian exchanges. They will no longer be allowed to keep crypto on foreign exchanges or in private wallets.*

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Link to the full article: [https://www.businessinsider.in/cryptocurrency/news/no-crypto-ban-in-india-sebi-will-reportedly-be-pulled-in-to-regulate-the-sector/articleshow/88065166.cms](https://www.businessinsider.in/cryptocurrency/news/no-crypto-ban-in-india-sebi-will-reportedly-be-pulled-in-to-regulate-the-sector/articleshow/88065166.cms)

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Now I keep all of crypto (~80% of which is Bitcoin) on my Trezor. What would you guys suggest in this case?

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P.S.: Indian exchanges are shitty. They shutdown during extreme times. People weren’t able to buy during the May dip.



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6 Comments

  1. “Citizens will no longer be allowed to hold their crypto assets on foreign exchanges or in private wallets,”

    ..and just like that ….the use of peer to peer exchanges sky rocketed…Thank you India, Thank you BJP, Thank you Dear Modi.

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