There's a possibility of India to ban crypto again. According to an article by decrypt, "
A new bill in India may be proposing up to ten years of prison or fines up to $3.3 million for using cryptocurrency."
If the bill passed, the chance of having Indian into the crypto space will be very low as the punishment is too high.
Source-
https://decrypt.co/32160/india-considers-another-widespread-ban-on-bitcoinWhat are they trying to assert with it ?
• Dominance?
Dominance over people who actually are already crushed by the corruption policies of the government?
• I did notice that they used the statement *Private Owned cryptocurrencies* in one place
Does that mean they are trying to create a digital rupee as well ?
• Are they scared that this Crypto is something that was from China and therefore can actually be problematic to time in the future?
I don't know what's wrong but what I know is :
They are for sure not scared about cryptocurrencies being used for bad things , because the percentage is quite low. People have started building their ICO's , giving business ideas and such . The market is flourishing.
Let us talk about this :
*Chapter III: Offences and penalties
Taking gratification in order to influence public servant, by corrupt or illegal means, shall be punishable with imprisonment for a term which shall be not less than three year but which may extend to seven years and shall also be liable to fine.*
3 years+ for corruption
*Except in certain aggravated situation the punishment will be imprisonment not less than seven years but which may extend to imprisonment for life, and shall also be liable to fine.*
7 years + for Rape
10 years of prison for Crypto users ? This is both hilarious and offensive.
https://yourstory.com/2020/06/bootstrapped-startup-paxful-ebay-bitcoin-india-crypto-marketExample of what I said above '
* The market is flourishing . *