According to information shared by lawyer Varun Sethi, the draft of India's ban on the use of cryptocurrencies has been made public. Part of the second part of the draft reads: “No one may mine, produce, hold, sell, trade, distribute, transfer, dispose or use cryptocurrencies in India. Nothing in this Act shall apply to any experiment or Anyone who uses any cryptocurrency-based technology or procedure for research purposes, including those who teach students, provided that cryptocurrencies are not used to pay or accept payments for such activities.
Nothing in this Law applies to the creation of networks using distributed ledgering techniques for the delivery of any financial or other services, or for the creation of value, without the use of any cryptocurrency for payment or acceptance of payments. "With such a long time, the government said it is "researching technology" and "understanding cryptocurrency." According to a report in May this year, an RTI file submitted by an Indian official asked whether it planned to impose a comprehensive ban on cryptocurrency, but it was met. The refusal of the Department of Economic Affairs (DEA). The reason for the refusal is that the deliberation has ended and the relevant information will be published soon.
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