Cryptocurrency Bill China India city Mumbai cryptocurrency crypto ban Cryptocurrency Bill China India city Mumbai

Proposed bill banning crypto payments could mean jail for violations

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Mumbai: Proposed legislation that would ban the use of cryptocurrencies as a method of payment in India also seeks to make those who infringe the law subject to arrest without a warrant and being held without bail, according to a source and a summary of the bill seen by Reuters.

Prime Minister Narendra Modi's government has previously flagged that it plans to ban most cryptocurrencies — a move which follows measures by China this September that intensified its crackdown on cryptocurrencies..

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