India Set To Propose Bitcoin Ban

A senior Indian government official has informed Reuters that the nation of India is set to propose a law banning cryptocurrencies. The bill would be a major blow to the industry, as it would reportedly penalize anyone holding, trading or mining digital assets, including bitcoin.

Three years ago, the Reserve Bank of India (RBI) attempted to ban cryptocurrency by inhibiting banks from doing business with companies in the industry. Although India’s supreme court struck down the ban in 2020, it now appears that a new, even stricter ban will soon be proposed.

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