India could penalize the use of cryptocurrencies

Presumably in the coming days the Indian government would enact a bill that would oblige the holders of these assets to liquidate them

Anonymous sources claim that the Indian government would be preparing a bill that would force cryptocurrency holders to liquidate their assets within six months.

In case they do not follow the measure the government could take the power to apply fines, as well as establish a committee to request jail time of up to 10 years.

It is known that Indian authorities are not very fond of cryptocurrencies. Thus, if confirmed, all this action would be considered the most severe one in the country so far.

The bill is expected to criminalize the possession, issuance, mining and trading of cryptocurrencies. Many consider that these actions come in the worst of times since bitcoin, and other crypto assets are presenting quite a few movements in the market.

K. Tovar

Source: Panampost

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