Government panel recommends banning use of cryptocurrencies in India

An inter-ministerial panel of the government has recommended banning of the use of cryptocurrencies in India, and suggested for imposing fines and penalties for carrying any activities connected with the ocurrencies in the country. The committee headed by finance secretary Subhash Chandra Garg has proposed a draft bill “Banning of Cryptocurrency & Regulation of Official Digital Currency Bill, 2019", which has been placed in the public domain.

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