Specualtuons regarding the ban of IP addresses have come to surface that the centre will table a new bill in this year (2021).It says that it will fine anyone who mine or even hold digital assets.This would lead to a potential blow to millions of investors into red hot-asset class.
Bill is one of the strictest policies in the world . It would criminalize anyone possessing crypto currency, mining or even trading it!The ban is on line with the January agenda of banning private virtual currency such as Bitcoin.
Instead, India should give thier citizens time of approx 6 months to liquidate thier investment/assets and then Ban it.Theres is also a high possibility of this bill turning into a law as prime minister Narendra Modi's government holds a comfortable majority in the government.If this bill is made into a law India would be the first major economy to ban virtual currency.Even though China has banned it but it does not ' Criminalize ' those who trade or mine it.
Top Indian officials have called crypto currency "ponzi scheme" but the finance minister Nirmala Sitharaman eased some concerns this month, that they are looking for ways in which experiment can happen in the digital world and crypto currency.
I personally as an Indian think that India should be promoting crypto like the other countries such as UK , Singapore, Germany etc than criminalize it . Anyways be prepared for the worst case .Lemme know your thoughts on this topic!
