Cryptocurrency ban - 10 year Jail for holding, transfer, mining...

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Tech Guru
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Tech Guru
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Dispose within 90 days after commencement of Act

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Tech Guru
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If the drafted bill becomes the law, cryptocurrency holders will have 90 days to declare and dispose of cryptocurrencies “in accordance with the prescription of central government.”

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suspended
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Original wrote:

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how will they (if at all) monitor and enforce it 🤔 http://pib.nic.in/newsite/PrintRelease.aspx?rel...

Income Tax Dept. has had “Big Data” technology and infrastructure since 5-6 years now, but not enough staffing to use it.
despite most transactions being from financial system itself ITD is unable to grab 70-80% or more of the tax evasion cases.

in crypto, most transactions would be off the system (unless Paypal, others compromise privacy policies and share data with investigation agencies).

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Entertainer
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Now this is a problem. I forgot how many crypto wallets I’m holding. Lost track of all after bubble burst

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