Quote from: CoinFellow on March 30, 2021, 11:39:12 AM

Quote from: Clement Kaliyar on March 29, 2021, 09:08:04 PM

Quote from: Wapinter on March 29, 2021, 08:28:49 AM

Parliament session is over without the bill. That means either government will make changes in the bill as demanded by crypto community or it will postpone it for few years and maintain the status quo.

Not sure about that and there is no clarity on what they are planning to do, one thing i know is that the government has asked companies to report their cryptocurrency holdings when they file the financial statement next month which means all the exchanges in India will hand over the customer data to the government. Will see what happens next after collecting all these data, will they start freezing bank accounts or monitor our transactions is to be seen.

I don't think you are correct here. Government has asked companies to report their crypto holdings when filing financial statement - this does not mean exchanges in India have to hand over their customer data to the government. Not sure how did you arrive at this inference. In a way this is good because it means that government is moving towards regulation (which is good) instead of outright crypto ban. We just have to see if government also asks individuals to declare their crypto holdings while filing IT Returns.

Let me explain that to you, you agree that the government asked companies to report their crypto holdings when filing financial statement right, what happens with the exchanges they need to disclose their personal company holdings majority customer funds stored in the exchange and what do you think will happen, they will be providing those customer information as well and it is not a big deal for a government to ask for all the customer data from these exchanges and if they are planning to ban they can target these users.