In the aftermath of the apex court’s landmark judgment on the use and regulation of cryptocurrencies, the fate of the draft Banning of Cryptocurrency & Regulation of Official Digital Currency Bill, 2019, hangs fire.
The draft Bill, in stark contrast to the court’s order, stipulates that the use of cryptocurrency is punishable with a fine or imprisonment of up to 10 years. Both government and banking sector regulator — the Reserve Bank of India — have to go back to the drawing board once more to firm up their views on the nascent cryptocurrency ...
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