India announces plan to crack down on cryptocurrency misuse

india announces plan to crack down on cryptocurrency misuse

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The notification reflects government's intent. Money laundering provisions will now laundering and what are the consequences of announcss involved with the same. Paytm Payment Bank Ban. Car owner, insurer asked to of crypto.

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The Crackdown on Crypto
The ruling Bharatiya Janata Party's (BJP) bill would prohibit all private cryptocurrencies and introduce a digital currency issued and regulated. Crypto trading has slowed down drastically, putting the brakes on a market which was once on fire. Undeterred, crypto founders are looking. The feds are cracking down a lot harder on crypto these days?? Tuesday's announcement is a vivid example of the federal government's tough stance.
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FSB and the International Monetary Fund recently published a paper on crypto assets that says cross-border payments via crypto have created a challenge for regulators. While Shetty refuses to comment on this case as the matter is sub-judice, what it does highlight are the potential risks. Driven by investors seeking returns at a time of low interest rates, the rush to crypto has led to a mushrooming of start-ups and exchanges. For reprint rights: Syndications Today. Just about 3 per cent of Indians actively invest in stocks; the participation rate in mutual funds is similar.