in

India set to ban all private cryptocurrency, except a few exceptions

This news article has some analysis and reports from ‘unnamed’ sources

[https://www.news18.com/news/explainers/explained-where-india-stands-on-cryptocurrencies-what-new-bill-will-mean-for-bitcoin-and-company-4480625.html](https://www.news18.com/news/explainers/explained-where-india-stands-on-cryptocurrencies-what-new-bill-will-mean-for-bitcoin-and-company-4480625.html)

​

> seeks “to prohibit all private cryptocurrencies in India”. But the Bill does allow “for certain exceptions to promote the underlying technology of cryptocurrency and its uses”.
>
>
>
>unnamed source: “one of the world’s strictest policies against cryptocurrencies (and) would criminalise possession, issuance, mining, trading and transferring crypto-assets”. It had said that in such an event, investors would be given a window to dispose of their crypto holdings following which penalties will be introduced.
>
>
>
> “looking at ways in which experiments can happen in the digital world and cryptocurrency”. “I can only give you this clue that we are not closing our minds,” she had told CNBC-TV18, adding that “there will be a very calibrated position taken”, on cryptocurrency.

I am not sure what to make of this. Its going to be a very strict position, but hopefully they might make an exception for bitoin in some capacity. But my hope of freely trading crypto locally have faded 🙁

Thoughts ?



View Reddit by son_son_vallanoView Source

Leave a Reply

Your email address will not be published. Required fields are marked *

GIPHY App Key not set. Please check settings

4 Comments

What do you think?

Bitcoin, Ethereum, SAND, GRT Price Analysis – 27 November Roundup 1

Bitcoin, Ethereum, SAND, GRT Price Analysis – 27 November Roundup

Hillary Clinton Says Russia, China Might Weaponize Cryptocurrency by ‘Manipulating Technology’