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Draft Cryptocurrency Bill In India: Prison Sentence, Fine Of Up To Rs 20 Crore For Violation
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Cryptoassets will be regulated by the Securities and Exchange Board of India (SEBI).
Individuals and corporations violating government rules on crypto finance will face fines of up to Rs 20 crore and a jail term of 1.5 years, according to the proposed legislation to regulate cryptocurrency in India. All private cryptocurrency will be regulated and not banned, as was planned earlier. However, crypto will not be recognised as currency or legal tender. The legislation's name has replaced the word
Read more on ndtv.comAbout this in other media
Proposed bill banning crypto payments could mean jail for violations economictimes.indiatimes.com /2 years ago
India's proposed bill banning crypto payments could mean jail for violations -document euronews.com /2 years ago
India to set maximum penalty for violating crypto norms at fine of $2.7 million or 1.5 years in jail cointelegraph.com /2 years ago
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