Post
Topic
Board India
Re: Lets assume the worst. What's next?
by
webtricks
on 19/06/2019, 17:34:38 UTC
Lets assume this tweet is true - https://twitter.com/Nikunj_Ohri/status/1136823903605723137

"India has proposed a jail term of one to ten years for those who mine, hold or sell cryptocurrencies."

What if this become law? How do you plan for your next course of action (and suggest others)?

p.s. Any attempt to divert the discussion with "I believe this will not become law" etc. will be outright deleted.

I don't think holding cryptocurrencies will become illegal ever. Buying and selling in the local market may become illegal but no government can control the movement of cryptocurrencies between wallets. Hence, banning the holding and transferring would literally contribute nothing.
So even a scenario comes where government pass any such bill (chances of which is very meager), no need to worry as one can still receive crypto in wallets and sell them on OTC Exchanges in International Markets.