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  • a source told Reuters.

  • India will propose a law banning Cryptocurrency.

  • A senior government official says trading or even holding such digital assets would be criminalized.

  • The bill aligns with the government's agenda for 2021 which aimed to ban private virtual currencies like Bitcoin and replace them with an official digital currency.

  • The official says the measure would give Cryptocurrency holders up to six months to empty their accounts.

  • Afterward.

  • Penalties will be levied for possession, issuance, mining, trading and transferring crypto assets.

  • A government panel in 2019 recommended jail up to 10 years for dealing in Cryptocurrencies, but the Reuters source declined to say whether the new bill includes those terms.

  • The bill is backed by Prime Minister Narendra Modi, whose party the BJP holds a majority in parliament.

  • If the band becomes law, India would be the first major economy to criminalize holding Cryptocurrency.

  • Even China, which has banned mining and trading, does not penalize possession.

  • India's Finance Ministry did not immediately respond to an email seeking comment.

  • Meanwhile, the world's biggest Cryptocurrency Bitcoin hit a record high value over the weekend, which is nearly doubled this year.

a source told Reuters.

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B1 cryptocurrency india trading propose mining possession

India to propose cryptocurrency ban, source says

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    林宜悉 posted on 2021/03/15
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