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India plans to introduce new law prohibiting all 'private cryptocurrencies'.
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The proposed regulations would be the toughest worldwide, and would penalizing anyone who holds, buys or mines.
Indian crypto bill's progress update the indian government is getting closer to introducing the cryptocurrency bill in parliament. On friday, cnbc tv18 and bloombergquint provided some updates on the status of the bill and what discussions the government has been having regarding cryptocurrency. The domestic payments authority national payments corporation of india (npci) has refused to ban cryptocurrency transactions, putting the onus on banks whether to ban transactions of cryptocurrency trades or not. Google pay rs,51 new only link. Indian government has made its first move to regulate bitcoin and other cryptocurrency by making it mandatory for all companies in the country to disclose their dealings in virtual currency in their balance sheets. If crypto currency is an automobile, bct is the engine. Cryptocurrency in india is set to open new doors for indian investors. In 2019, the reserve bank of india had issued a circular which confirmed that regulated entities in the country cannot provide cryptocurrency services in the country. India will propose a law banning cryptocurrencies, fining anyone trading in the country or even holding such digital assets, a senior government official told reuters in a potential blow to. The proposed regulations would be the toughest worldwide, and would penalizing anyone who holds, buys or mines. Our cryptocurrency news feed is a one stop shop destination on all the latest news in crypto. On a complete ban on crypto, the government needs to come up with a path to make the reimbursement. The government provided its latest stance in areas such as the national cryptocurrency and licensing of crypto businesses.
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