Topic: Indulging with cryptocurrencies could send you to jail in India - page 2. (Read 379 times)
It's disappointing that they will punish people who are holding cryptocurrency like criminals. I think that's too much but if it's the only way for them to stop terrorism and fraudulent in their country then we can't do anything about it if it's really their rule. However, it isn't final yet and there will still be future announcements about it.
~snip~
Now if you have some Bitcoins and you are holding them , or selling them or even buying them , you could be jailed for almost 10 years.
This gone too far. There were no need for that. Now if you have some Bitcoins and you are holding them , or selling them or even buying them , you could be jailed for almost 10 years.
These governments will always try to stop their citizens to have their freedom or how are they going to roll?
I hope they do reconsider this new law.
Even if it becomes a law, people will simply find alternative means to deal with crypto. They banned porn, but people are still watching it. They banned torrents(Punishable offence), but people still use proxies and VPNs without even hesitating. Pointless proposal indeed.
~snip~
Now if you have some Bitcoins and you are holding them , or selling them or even buying them , you could be jailed for almost 10 years.
This gone too far. There were no need for that. Now if you have some Bitcoins and you are holding them , or selling them or even buying them , you could be jailed for almost 10 years.
These governments will always try to stop their citizens to have their freedom or how are they going to roll?
I hope they do reconsider this new law.
I agree, this is just disheartening. but I think the government is just looking into a broader picture which might expose their
citizen to more scams which is rampant in India and other criminal criminal activities like laundering, black market transactions etc..
which are valid concerns but I still think they is just over reacting with these punishments.
The owner of bitconnect.com was arrested in India for $14 billion ponzi scheme using Bitcoins.
This draconian harsh law that can severely penalized people who are into cryptocurrency is still in the proposal stage and the way I am seeing it is that this may have a less chance of making it. Putting cryptocurrency ownership almost equal to that of possessing and distributing illegal narcotics is to me so irrational and uncalled-for. I am wishing that this move can galvanize the cryptocurrency community in India so they can unite and present a one big voice against this very unnecessary move.
I think that Indian government is over reacting on implementing regulations and penalties to those who are engaging in cryptocurrency. They are scared of the risk of crypto being used in fraudelents acts, money laundering, funding terrorists and such, however they are over looking on a point that cryptocurrency can bring opportunities and convenience to those who use and utilize it. Let's hope this will not be implemented.
This draconian harsh law that can severely penalized people who are into cryptocurrency is still in the proposal stage and the way I am seeing it is that this may have a less chance of making it. Putting cryptocurrency ownership almost equal to that of possessing and distributing illegal narcotics is to me so irrational and uncalled-for. I am wishing that this move can galvanize the cryptocurrency community in India so they can unite and present a one big voice against this very unnecessary move.
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~snip~
Now if you have some Bitcoins and you are holding them , or selling them or even buying them , you could be jailed for almost 10 years.
This gone too far. There were no need for that. Now if you have some Bitcoins and you are holding them , or selling them or even buying them , you could be jailed for almost 10 years.
These governments will always try to stop their citizens to have their freedom or how are they going to roll?
I hope they do reconsider this new law.
Hey
Have you guys heard about the news where the court decided to not only make the cryptocurrencies illegal and banning bank accounts from dealing with them they also decided to make another rule.
Now if you have some Bitcoins and you are holding them , or selling them or even buying them , you could be jailed for almost 10 years.
Isn't this the most ridiculous thing ever ?
Like come on people it's really not done , what is the government doing and why ?
There was a time when India was supporting cryptocurrencies , now it's becoming more like China , or I would say even worse in this matter.
I don't think this is something that should be well accounted for all the people residing there.
So would you still hold them ? And do transactions ?
To be honest I have heard the case where a child molester was given a sentence of 6 years , it's bigger than that !
Where is the sanity here ?
Have you guys heard about the news where the court decided to not only make the cryptocurrencies illegal and banning bank accounts from dealing with them they also decided to make another rule.
Now if you have some Bitcoins and you are holding them , or selling them or even buying them , you could be jailed for almost 10 years.
Isn't this the most ridiculous thing ever ?
Like come on people it's really not done , what is the government doing and why ?
There was a time when India was supporting cryptocurrencies , now it's becoming more like China , or I would say even worse in this matter.
I don't think this is something that should be well accounted for all the people residing there.
So would you still hold them ? And do transactions ?
To be honest I have heard the case where a child molester was given a sentence of 6 years , it's bigger than that !
Where is the sanity here ?
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