information India to propose cryptocurrency ban, penalizing miners, traders - source

[Lox]

India will propose a law banning cryptocurrencies, fining anyone trading in the country or even holding such digital assets, a senior government official told Reuters in a potential blow to millions of investors piling into the red-hot asset class.
...
The measure is in line with a January government agenda that called for banning private virtual currencies such as bitcoin while building a framework for an official digital currency. But recent government comments had raised investors’ hopes that the authorities might go easier on the booming market.

However, in a recent interview (twitter video), Finance Minister noted that the investors will get a window...

read more (reuters)

 

[jhm]

Core focus is poor regulation. People "should" be aloud to do what they want with their finance's, in a decentralised sense, applies to any country. People will rebel, like traders, who know their holding's are online with hardware wallets, with back-up seed words, out of reach from being frozen. Working with people in the industry, in India, who actually "know" cryptocurrency, assisting government with fair regulation that doesn't ban it (not a fan of regulation, but in "some" ways, it has its place)

 

[Samer]

hahaha

the market wont stop for India.

China tried this to crypto too; learned hard way