Quote from: bryant.coleman on June 07, 2019, 12:19:41 PM

India has decided to completely ban the possession, sale and purchase of Bitcoin or any other form of crypto-currency.

According to the mainstream media, the measures will be implemented this month, with a 90-day waiting period. Anyone who don't "dispose off" their crypto holding within this time period will be charged with non-bailable criminal offenses, which can be punished by up to 10 years in jail.

What makes this measure different from others is that while countries such as Nepal and Bangladesh have arrested random individuals for trading in cryptocurrency (or for exchanging crypto for fiat), none of the authorities anywhere in the world have arrested users just for the possession of crypto-currency.

There are an estimated 100,000 crypto-traders in India, and there are another 5,000,000 individuals who have dealt with crypto at some point of time.

Sources:

https://www.bloombergquint.com/bq-blue-exclusive/exclusive-india-proposes-10-year-jail-for-cryptocurrency-use-may-introduce-its-own-digital-currency
https://www.moneycontrol.com/news/business/cryptocurrency/10-year-jail-for-buying-selling-cryptocurrency-in-india-report-4073451.html
https://entrackr.com/2019/06/crypto-users-india-may-face-10-year-jail-term/
https://www.ccn.com/bitcoin-india-anti-crypto-bill-imprisonment
https://www.fxstreet.com/cryptocurrencies/news/indias-crypto-ban-draft-bill-suggests-10-year-jail-term-for-those-dealing-in-cryptocurrencies-201906071050

Its quiet serious condition there in india. You will be jailed just because you have a bitcoin and i do hear its really hard to cash out your cryptocurrency into fiat money in india right now.

Quote from: candra raditya on June 09, 2019, 03:14:16 PM

A condition that is not favorable for crypto owners, and if such regulations are really implemented in your country it is better to sell than to have to deal with the law.

Yes i believe many people in india are thought to sell all their cryptocurrency cause the regulations, i dont know why goverments i so afraid with it, and i dont think india have such a great influence in world economy, maybe they are afraid that some parties would use bitcoin to do fraud and hidden transactions that not suppose to happen.