A draft of a bill has been leaked in India inclining some to believe that the Indian government is considering prohibiting the use of cryptocurrencies in the country.
Even though its authenticity can be questioned, the draft which bears the title “Banning of Cryptocurrency & Regulation of Official Digital Currencies” has been circulating in social media through the technology lawyer Varun Sethi.
The draft defines cryptos as “any information or code or number or token not being part of any Official Digital Currency, generated through cryptographic means or otherwise, providing a digital representation of value” and further states that “no person shall mine, generate, hold, sell, deal in, issue, transfer, dispose of or use Cryptocurrency in the territory of India.”
Even though its authenticity can be questioned, the draft which bears the title “Banning of Cryptocurrency & Regulation of Official Digital Currencies” has been circulating in social media through the technology lawyer Varun Sethi.
The draft defines cryptos as “any information or code or number or token not being part of any Official Digital Currency, generated through cryptographic means or otherwise, providing a digital representation of value” and further states that “no person shall mine, generate, hold, sell, deal in, issue, transfer, dispose of or use Cryptocurrency in the territory of India.”
