Indians Could Soon Be Penalised for Holding Bitcoin: Report

According to a report by Reuters, the Indian government is looking to introduce a new bill that will criminalize possession, issuance, mining, trading, and transferring any crypto assets. 

As Bitcoin and other cryptocurrencies are currently touching the sky as highest they can, it seems that the Indian government will once again try to ban crypto-trading in the country. During Budget 2021, the government revealed its plan to propose a new bill in which digital currencies like bitcoin will be banned in the country. Also, whoever will trade or hold any kind of crypto assets will be fined. 

If the bill is passed, it will make India the first country in which holding or trading any kind of crypto will be illegal. While China has banned the mining and trading of crypto, but it doesn’t penalize their possession. yify codecs free download

The Indian government will provide investors with a six-month window, allowing them to liquidate their assets before the penalty is levied. According to a survey, more than 7 million Indians have around $1 billion invested in crypto pcsoftpatchassets.

Anuz Vaidhya

Hi. This is Anuz Vaidhya here. I have been a Digital Marketer since 2017. Besides this, I am a tech enthusiast and passionate content writer. Hit me up if you want me to write content for you.

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