India on the verge of total cryptocurrency ban

India on the verge of total cryptocurrency ban

According to CNBC-TV18, a research group set up by the government of India has concluded that all virtual currencies in the country should be outlawed. The task assigned to the employees of the group by the authorities was to create a bill regulating the circulation of cryptocurrencies.



The group, headed by Subhash Chandra Garg, Secretary of the Department of Economics under the Ministry of Finance of India, was established in November of this year. After completing its mission, the group handed the conclusion to Finance Minister Arun Jaitley, who must make a final decision.



Members of the group believe that the Reserve Bank of India needs a new law to implement the ban on cryptocurrencies: “The law should prescribe punitive m ...
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