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India's crypto ban bill could mean arrest and jail without a warrant or bail for violations
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Proposed legislation that would ban the use of cryptocurrencies as a method of payment in India also seeks to make those who infringe the law subject to arrest without a warrant and being held without bail, according to a source and a summary of the bill seen by Reuters.
Prime Minister Narendra Modi's government has previously flagged that it plans to ban most cryptocurrencies - a move which follows measures by China this September that intensified its crackdown on cryptocurrencies.
According to the summary of the bill, the Indian government is planning a "general prohibition on all activities by any individual on mining, generating, holding, selling, (or) dealing" in digital currencies as a "medium of exchange, store of value and a unit of
Read more on euronews.comAbout this in other media
India's proposed bill banning crypto payments could mean jail for violations -document euronews.com /2 years ago
India to set maximum penalty for violating crypto norms at fine of $2.7 million or 1.5 years in jail cointelegraph.com /2 years ago
Draft Cryptocurrency Bill In India: Prison Sentence, Fine Of Up To Rs 20 Crore For Violation ndtv.com /2 years ago
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