The Government of India conducts interdepartmental consultations on the draft law, which introduces a direct ban on cryptocurrency as
The generated government commission began to develop the rules for regulating the Crypto Industry for 2019. The economic and financial departments supported the proposal to prohibit the sale, purchase and release of all types of digital currencies, except for official. Based on the received reviews, the final version of the law will be formed.
The Committee also indicated that cryptocurrencies are used to launder money and participate in illegal schemes for investor deception. At the same time, the organizers receive huge revenues. Therefore, officials also consider the possibility of banning digital currencies in accordance with anti-bearing legislation.
Due to the fact that the preparation of the bill will need time, the Ministry of Corporate Issues of India recommends to begin to persecute the laws using cryptocurrency for illegal purposes.
Recall that in early April, the Chinese government took the mining Bitcoin