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

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

37°
Ori
Deal Major
49
18951
183

🙁

4 Comments  |  
2 Dimers
Ori
Deal Major
49
18951
183

Dispose within 90 days after commencement of Act

Ori
Deal Major
49
18951
183

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:

🙁

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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Deal Subedar
122
1038
17

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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