Crypto bill could propose arrest without warrant for violation of new laws: Report

SHARE:

It is no secret that the Indian government is working on a bill to bring more control over the currently unregulated crypto industry in Indi...

Honor 10i leaked with 32MP front camera, triple-rear camera setup and Kirin 710
Xiaomi Black Shark 2 key specs revealed, registrations open in China
Xiaomi Redmi Note 7 now receiving MIUI 10270 update that enhances low light camera mode

It is no secret that the Indian government is working on a bill to bring more control over the currently unregulated crypto industry in India. This bill is expected to be tabled in the lower house of the parliament during the winter session. However, ahead of the tabling of this proposed bill, details about it have started to emerge online. 

As per a new report by Reuters, this bill would ban the use of cryptocurrencies as a method of payment in the country, and will also bring in stringent punishments for those who go against the regulations proposed in the bill. The bill, as per the report, would allow the authorities to arrest individuals without a warrant and hold them without bail. 

New Crypto laws announced in India

According to the summary of the bill accessed by Reuters, the government is making plans of "general prohibition on all activities by any individual on mining, generating, holding, selling, (or) dealing" in digital currencies as a "medium of exchange, store of value and a unit of account". The report further states that flouting any of these rules would be "cognizable", thereby opening the door to non-bailable arrests without a warrant. 

Interestingly, this report goes against previous information on the issue which claims that the government plans to promote blockchain technology and only regulate and not ban cryptocurrencies. Previously, reports said India will likely bar the use of cryptocurrencies for transactions or making payments, however, it will allow them to be held as assets like gold. 

As per the reports, the government hopes that this approach would serve as a middle ground, that will help it avoid implementing a complete ban of cryptocurrencies in India. The report also adds that this would not mean that the government will actively promote the trading of cryptos as it does not want crypto exchanges to actively attract new investors. 

Also read: PM Modi reportedly chairs meeting on future of cryptos, discusses concerns about money laundering



from Crypto News https://ift.tt/31RiZ9O
Name

7,1,Airtel,1,Andriod,1,Android,4,Android Q,1,apex,1,Apple,7,Apps,1,Asus Rog,1,Black Shark 2,2,Boeing 737 MAX,1,Bsnl,2,camera,2,CPU,3,Donald Trump,1,Earphone,1,Facebook,5,Fan,1,Fitbit,1,foldable Phone,2,Fortnite,1,Galaxy A40,1,Galaxy s10,1,Galaxy s10e,1,Games,10,gaming,1,Google,6,Google Pixel 2,1,Honor 10i,1,Huawe,1,Huawei,6,Huawei GT,1,IBM,1,Instagram,2,Internet,2,ios,2,iPad,2,iphone,2,Israel,1,jiomart,1,Laptop,1,Leica Q2,1,M20,1,mac,1,MacOS,1,Mi 9,1,Mi A2,1,Mi LED TV,1,MicroSoft,3,mobile,1,Moon,2,Mozilla,1,Nasa,2,News,1,Nokia,4,Nokia 62,1,Nvidias,1,OnePlus,4,Oppo,5,P30,3,Pixel,1,Poco F1,1,Pubg,12,Qualcomm,2,Redmi 3,1,Redmi 6 Pro,1,Redmi 7,1,Redmi Note 7,1,reliance,1,Reno,1,samsung,11,Skype,1,SmartPhone,56,Social,5,Spotify,1,Tech,35,Telecom,3,Touchpad,1,Tournament,1,TV,1,Twitter,1,Vivo,2,Watch,2,WhatsApp,1,Xbox,1,Xiaomi,16,y9li,1,
ltr
item
Genius Baba: Crypto bill could propose arrest without warrant for violation of new laws: Report
Crypto bill could propose arrest without warrant for violation of new laws: Report
https://i.ytimg.com/vi/UvrT57xE_BA&t/hqdefault.jpg
https://i.ytimg.com/vi/UvrT57xE_BA&t/default.jpg
Genius Baba
https://geniusbabaa.blogspot.com/2021/12/crypto-bill-could-propose-arrest.html
https://geniusbabaa.blogspot.com/
https://geniusbabaa.blogspot.com/
https://geniusbabaa.blogspot.com/2021/12/crypto-bill-could-propose-arrest.html
true
7104319406113350277
UTF-8
Loaded All Posts Not found any posts VIEW ALL Readmore Reply Cancel reply Delete By Home PAGES POSTS View All RECOMMENDED FOR YOU LABEL ARCHIVE SEARCH ALL POSTS Not found any post match with your request Back Home Sunday Monday Tuesday Wednesday Thursday Friday Saturday Sun Mon Tue Wed Thu Fri Sat January February March April May June July August September October November December Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec just now 1 minute ago $$1$$ minutes ago 1 hour ago $$1$$ hours ago Yesterday $$1$$ days ago $$1$$ weeks ago more than 5 weeks ago Followers Follow THIS PREMIUM CONTENT IS LOCKED STEP 1: Share. STEP 2: Click the link you shared to unlock Copy All Code Select All Code All codes were copied to your clipboard Can not copy the codes / texts, please press [CTRL]+[C] (or CMD+C with Mac) to copy