Violations of the new crypto rules might result in a fine of Rs 20 Cr. or a jail sentence.

New Delhi, India: At a time when the central government is exploring new legislation to regulate cryptocurrencies, media sources on Tuesday indicated that Prime Minister Narendra Modi’s government will likely set a deadline for crypto holders to register their assets and comply with any new rules. According to the suggestions, offenders of the new cryptocurrency … Read more

The Crypto Asset Bill proposes to prohibit the use of crypto as a medium of exchange.

The crypto bill, which will be introduced in the Parliament’s winter session, aims to create a legislative framework for the rapidly developing crypto market. The Crypto Asset Bill intends to make it illegal to use crypto assets as currency replacements or as remittance payment systems. According to NDTV, the bill also proposes to create a … Read more

Cryptocurrency enthusiasts in India are calling New Delhi’s ban a hoax.

Saurabh Shah, a 26-year-old chartered accountant in Mumbai, is unconcerned about India’s proposed cryptocurrency prohibition. Similar suggestions have come and gone in the past. Shah bought Bitcoin as a student in 2017, just as India’s central bank banned financial institutions from carrying out crypto-related transactions. “I bought it because of the hype,” Shah told Al … Read more