India wants to ban cryptocurrency in the country

Reuters news agency, citing a senior official, found out that India wants to ban the use of cryptocurrency in the country.

According to the leak, the government is preparing a corresponding bill and they want to pass it this year. It criminalizes the issuance, mining, trading, transfer, and even ownership of cryptoassets. According to the source, all cryptocurrency owners will have to get rid of their assets within six months.

If the law is passed, India will become the first major economy to make it illegal to hold cryptocurrency. Even China, which prohibits mining and extraction of “crypt”, allows you to store it.

Why India wants to take such a step is unknown, but they say that the government is preparing its own digital money and, unlike private money, it will be possible to control and track. By the way, the other day the cost of the most expensive cryptocurrency Bitcoin exceeded the $ 60,000 mark.

Author: John Kessler
Graduated From the Massachusetts Institute of Technology. Previously, worked in various little-known media. Currently is an editor and developer of Free News.
Function: Director
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