Topic: India to make possession of "unapproved" Cryptocurrency a punishable offence - page 2. (Read 343 times)
October 11, 2018, 06:59:18 AM
The whole Bitcoin <--> FIAT business will move outside India. Indian Bitcoiners will remain unaffected, but no Bitcoin job will be created in India.
October 11, 2018, 06:40:11 AM
Happy days ahead for Bitcoin if it ends up on the "approved" list, as I guess it well might. Reason: too many Bitcoin hodlers in the political class and the bureaucracy!
Yeah it wouldn't make sense for them to not approve Bitcoin and approve other alts. This shouldn't affect Bitcoin much. Unless they push through with their state-backed crypto and decide to go after competitors, of course.
That being said, this is ridiculous lol. What makes them think such a rule is justified?
October 11, 2018, 05:04:57 AM
The particularly relevant part runs as follows:
“The panel is also discussing amendment of the Currency Act to make possession of any cryptocurrency, not approved by the government, a punishable offence,” said the government official.
So, it is early days yet, there is actually no such law existing as of now. They are merely thinking of introducing these clauses. A lot can happen between now and the actual promulgation of the law.
October 10, 2018, 08:26:05 AM
Here's the link from which I gleaned this particular nugget:
https://qz.com/india/1418897/after-strangling-bitcoin-india-may-launch-its-own-cryptocurrency/amp/
The particularly relevant part runs as follows:
“The panel is also discussing amendment of the Currency Act to make possession of any cryptocurrency, not approved by the government, a punishable offence,” said the government official.
Happy days ahead for Bitcoin if it ends up on the "approved" list, as I guess it well might. Reason: too many Bitcoin hodlers in the political class and the bureaucracy!
https://qz.com/india/1418897/after-strangling-bitcoin-india-may-launch-its-own-cryptocurrency/amp/
The particularly relevant part runs as follows:
“The panel is also discussing amendment of the Currency Act to make possession of any cryptocurrency, not approved by the government, a punishable offence,” said the government official.
Happy days ahead for Bitcoin if it ends up on the "approved" list, as I guess it well might. Reason: too many Bitcoin hodlers in the political class and the bureaucracy!
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