For those who actually believed the "10 years jail for using BTC" non sense

[Stedsm]

And for those shitlickers who popped up with too many threads misguiding people without understanding themselves what was that term for, here I am with some more details to throw light upon:



Snippets of the bill posted by Nikunj Ohri on Twitter.
Source: https://mobile.twitter.com/Nikunj_Ohri/status/1136984201876557824

There are specific clauses and sections mentioned under which, according to my belief, criminal deeds will be prosecuted and be punished for their criminal and/or money-laundering activities and also consist tax evasion. So, those articles and online news outlets trying to create panic in public should stop doing so without complete knowledge of what they're sharing. It's ridiculous how journalism has turned out to be spicing up the whole debate and bake money in their hands for doing the same.

[Wind_FURY]

BUT there are actually groups of people, usually in government, that are for the control/censorship of Bitcoin through, using our reliance on centralized exchanges, against us. Our duty as a community is to teach each other in how to get around it.

BISQ, https://bisq.network
Hodl Hodl, https://hodlhodl.com

 

[Pursuer]

it has always been like this though. these news sites usually use the news from countries like this which people don't really bother to check what is really going on or don't know who actually made the statement or what it was about. like the Russia which was in the news nearly every day a couple of years ago. some random dude made a statement and news sites started saying Russia banned bitcoin.
US equivalent of it would be if when Jaime Dimon said bitcoin is fraud the news sites said US banned bitcoin and would imprison anybody using it as a fraudster

[slaman29]

Journalism is all about making things as sensational. This is exactly like when they said China were going to jail miners and traders. Until this single day, not a single country in the world has put anyone in jail for using Bitcoin alone. Everyone jailed or fined was because they committed a criminal act like this points out. Evading tax etc. People need to understand governments are not stupid.

[drumamat]

It is clear that there are many scammers who use cryptocurrency for their own purposes.It is them and need to be punished.But if I use cryptocurrency and pay a Commission( essentially pay tax) should I sit 10 years in prison?I have long ceased to believe journalists. Because they all work on assignment and for money.

[buwaytress]

Good catch OP, but I'm not surprised. I know this is a little unrelated but a couple of months ago, they made a huge protest all around the world about Brunei's new laws that supposedly would stone gay men to death. I read the laws myself (easily downloadable, and all in English) and as you guessed it, there was actually no specific mention of any gay men being stoned to death, and basically, for that scenario to actually happen, there would need to be a lot of mitigating circumstances that are all but impossible to achieve.

Point is, journalists love picking up on this. I do agree there should be enough voices out there to act as check and balance to governments. But the media should be more responsible, it's not easy to take the time to research when you lose out to other outlets who vomit the news to get the clicks -- it's a terrible game of who's first -- but here we can also blame the audience.

Bitcoin users should really educate themselves as much as possible before believing what they read.

[pundit]

I do not trust such news. I know this a big time manipulation by media and Indian media is known for it.Current Indian govt is focusing on digitization since the first term, even news is there that main bank in India may develop their own blockchain. India being a high populated country it is a bit difficult to stop crimes,as cryptocurrencies work on decentralize platform, its easy to use money transferred/taken in form of cryptocurrencies in some illegal activities. I think clauses say it if cryptocurrencies is used in any illegal activities, the accused will get imprisonment.Journos have manipulated this news for getting high TRP only.

[Ucy]

Is this about India?

Well, anything is possible. If Indian government could do similar thing with zero criticism from governments around the world then it means most are harboring similar thoughts.
There are "laws" that shouldn't be taken seriously in my opinion

[ityandsyn]

Is this about India?

Well, anything is possible. If Indian government could do similar thing with zero criticism from governments around the world then it means most are harboring similar thoughts.
There are "laws" that shouldn't be taken seriously in my opinion

       Well nothing we can do if that's the rule of a country and that's very possible if they will disobey on that rule  and actually some country are really banning bitcoin and other crypto currency  but this can't affect us which our country was embarrassing crypto currency .

[joniboini]

Well, anything is possible. If Indian government could do similar thing with zero criticism from governments around the world then it means most are harboring similar thoughts.
There are "laws" that shouldn't be taken seriously in my opinion

What exactly are you trying to say? What does this have to do with the misleading journalism being discussed above?
You mean if Indian can punish people with 10-year jail then most likely others country would do the same thing?

[Machine Funk]

People don't seem to understand that laws need to be passed. You can propose any law. You can propose that everyone wear clown shoes. It doesn't mean it will be voted in. This is someone that lives in their own world and has no idea about anything. Delusional. Noone is even listening and noone should. The goverment doesn't just pass whatever laws it feels like. The is an entire process. It is like people who argue with the police, they not the judge they can do nothing so argue in court. 

[josephdd1]

See all those threads and news articles are done by low paid "reporters" that just copy paste news from some where, well not exactly copy paste but rewrite. That is how they make money. And in India, the whole situation regarding Bitcoin is shitty, right now the anti crypto side is getting the media exposure and not the 'for-crypto' lobby.

[xWolfx]

This is why lawyers makes so much money.

Those laws are like puzzle pieces thrown away with anger into the paper, at least that's what it looks like for me. Seems pretty accurate.

It's cool to know that they want to prosecute those using Bitcoin to fund their criminal activities. And not use a hatred based decision towards a certain ideal or movement which will look bad for any government that even indirectly do it.

[josephdd1]

This is why lawyers makes so much money.

Those laws are like puzzle pieces thrown away with anger into the paper, at least that's what it looks like for me. Seems pretty accurate.

It's cool to know that they want to prosecute those using Bitcoin to fund their criminal activities. And not use a hatred based decision towards a certain ideal or movement which will look bad for any government that even indirectly do it.

Do you even know what you are speaking about? There is no such law and there might not be such laws. Ever. And lawyers don't make laws lol who taught you that? 
At worst this is a list of extreme minded proposal, it will never pass. Well if it does people that care about their freedom should leave India.

[avikz]

It's great that OP actually tried to shed some proper light on this matter as many people has gone into panic mode after the news went viral. I always suggest every Indian to follow the Twitter handle and Youtube channel of Crypto Kanoon because they are a group of Lawyers who actually provides great and unbiased information about cryptos in India.

Youtube channel: https://www.youtube.com/channel/UC8FCcWDNe2N8EfEiVd7AwtA
Twitter handle: https://twitter.com/cryptokanoon

Now, I want everyone to see the below video to get a better insight on this ongoing dilemma.

https://www.youtube.com/watch?v=33gged1nyF4

The video is in Hindi but an English version is also available. I request OP to update the video link in the main thread so that people don't get confused!

[buwaytress]

People don't seem to understand that laws need to be passed. You can propose any law. You can propose that everyone wear clown shoes. It doesn't mean it will be voted in. This is someone that lives in their own world and has no idea about anything. Delusional. Noone is even listening and noone should. The goverment doesn't just pass whatever laws it feels like. The is an entire process. It is like people who argue with the police, they not the judge they can do nothing so argue in court. 

And also, people need to understand that for the penalties of the law to be passed in sentencing, there would need to be a lot behind it. I do agree it shouldn't even become law of course!

There is a death sentence in my country, for example, that is the punishment for apostacy. That is enshrined by law and the constitution, and referenced often, and used often in threats. In 50 years, hundreds of people have been charged and found guilty (I know, it's crazy). And to date, the death penalty has never been given, nor even suggested in courts.

You bet India would think a hundred times before passing on jail sentence for something so trivial even if it ever became law.

[superscommessebitcoin]

That's not surprising. The media almost always spread false information. Of course, not in full, because there is some truth there, too, but they always either do not say something, or add some nonsense from themselves.

[Stedsm]

Why is this even published in English? You'd think this would be all in their native language and keep the confusion away from other countries citizens, I am sure these post will lead to people in other countries being scared and confused.

What has language to do anything with what I said here?
It's actually great the news was spread in English so to let people know a bit more about what it's all actually about. Everyone was as much confused and panicked as they used to be, after the news showed up with a misleading title that shook people at Global level. I pursued my responsibility here by sharing a bit more, actually tried to fetch and share reality out of the shit and garbage these guys have spread amongst public. Because Bitcoin is considered to be a global cryptocurrency, let us help each other by letting everyone know the truth and instead of talking about language gaps we should tell everyone in their own language and make them aware about this as India is a growing economy and a market that could lead this speculative asset to a very special value we already witnessed during 2017-18 surge based on its usage in our country.

[timerland]

There are specific clauses and sections mentioned under which, according to my belief, criminal deeds will be prosecuted and be punished for their criminal and/or money-laundering activities and also consist tax evasion. So, those articles and online news outlets trying to create panic in public should stop doing so without complete knowledge of what they're sharing. It's ridiculous how journalism has turned out to be spicing up the whole debate and bake money in their hands for doing the same.

Of course you're going to be handed jail-time for using any currency for illegal means. The currency doesn't even matter. This is just legislation specific to bitcoin, but if you don't do anything not in accordance with the law, then you should have absolutely no worries.

The fact that people are trying to spread this type of uncertainty, and people are actually believing them is disconcerting, though.

Just a little common sense will get you the answer you need. If there using BTC was an indictable offense, why are there even regulated bitcoin businesses operating in the US? Why aren't there heaps of people in jail? And how would they even enforce such a law of censoring an entire decentralized network, even if it was true?

[Kakmakr]

What have we learned from this? People will believe any shit they read in the papers and "FUD" like this will spread like wildfire, because it is sensational and grabs people's attention. 

I also see Zimbabwe is forcing their citizens to use their own shitty reserve currency now and banned the use of other currencies like the US Dollar and the South African Rand <ZAR> to protect their own currency. 

Governments are sabotaging the wealth of their own people, by holding a gun to their head and forcing them to use their own shitty reserve currencies.