Indulging with cryptocurrencies could send you to jail in India

[fortunecrypto]

Hey
Have you guys heard about the news where the court decided to not only make the cryptocurrencies illegal and banning bank accounts from dealing with them they also decided to make another rule.
Now if you have some Bitcoins and you are holding them , or selling them or even buying them , you could be jailed for almost 10 years.
Isn't this the most ridiculous thing ever ?
Like come on people it's really not done , what is the government doing and why ?
There was a time when India was supporting cryptocurrencies , now it's becoming more like China , or I would say even worse in this matter.
I don't think this is something that should be well accounted for all the people residing there.
So would you still hold them ? And do transactions ?

To be honest I have heard the case where a child molester was given a sentence of 6 years , it's bigger than that !

Where is the sanity here ?

It really is very abusive and very harsh made me think whoever draft laws hate cryptocurrency so much, it's almost a capital punishment imagine 10 years, that 10 years here in our country is equal to homicide or large scale estafa, what happened to freedom in India.

[1714990414]

1714990414

[1714990414]

1714990414

[1714990414]

1714990414

[Eraldo Coil]

India is probably scared that you can just get money like that. If this is true, Indians can just go to other countries and have their money back in that country where cryptocurrencies are legal. But that will take a lot of money of course depending on the country. I hope they can make it legal or regulate it in a good way.

[normanz]

I think it's a rule that doesn't make sense if the government gives a 10-year sentence to crypto users, maybe it's better to move to another country to be more calm in using crypto.

[salty]

I wonder why this decision was spontaneous?How will those who already have cryptocurrency in their wallets behave?I plan to pack and go to India to buy cheap cryptocurrency.No matter how hard the government of India tries to ban cryptocurrency, no one will want to lose their money invested in ICO. Therefore, we all have to face the fact that in the near future the market will be in the red zone.

[Marry Finch]

You are incorrectly informed. This is not a court decision. The court can only prohibit the use of crypto-currency, but it cannot establish criminal liability for its use. This is a bill to ban the use of cryptocurrency and ten years in prison for violating this restriction. However, this does not mean anything. It is unlikely that such a bill would be passed as a law.

[BeManga]

Hey
Have you guys heard about the news where the court decided to not only make the cryptocurrencies illegal and banning bank accounts from dealing with them they also decided to make another rule.
Now if you have some Bitcoins and you are holding them , or selling them or even buying them , you could be jailed for almost 10 years.
Isn't this the most ridiculous thing ever ?
Like come on people it's really not done , what is the government doing and why ?
There was a time when India was supporting cryptocurrencies , now it's becoming more like China , or I would say even worse in this matter.
I don't think this is something that should be well accounted for all the people residing there.
So would you still hold them ? And do transactions ?

To be honest I have heard the case where a child molester was given a sentence of 6 years , it's bigger than that !

Where is the sanity here ?

It really is very abusive and very harsh made me think whoever draft laws hate cryptocurrency so much, it's almost a capital punishment imagine 10 years, that 10 years here in our country is equal to homicide or large scale estafa, what happened to freedom in India.

i agree the proposed bill is really ridiculous only insane person will approved it

[Ryan Dugan]

I just heard this news, and I think it's too much.  Maybe the government just gives a ban to its people without having to give a prison sentence.  Maybe the Indian government considers the presence of Bitcoin a threat to them, so they act like that.  Whereas in other developed countries, it actually accepts and legalizes Bitcoin in their country, maybe the Indian government needs to see this.

They remind me of communists taking peoples freedom away.  Trying to control the people out of fear. I don't think they care how well bitcoin and cryptocurrency does on other countries because of this. Bootcoin doesn't need to be "legalized" anywhere. Do you think things have to be made legal just to be able to use it?

[Korkorjkk]

Oh its sad to treat Cryptocurrency enthusiasts this way. If the currency has been banned, I believe they should give holders some time to trade then after that time they can punish them for disobeying the rules. I'm not in favour of the 10 years imprisonment, its too harsh.