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India government new bill on cryptocurrency law!Current bitcoin news update in hindi



India government new bill on cryptocurrency regulation
This new Bill to ban Unregulated Deposit Schemes and Chit Funds (Amendment) Bill, 2018
Earlier, the finance ministry had warned buyers of making an investment in cryptocurrencies, pronouncing those who invest in crypto they do it at their own danger and in current union finances he instructed that cryptocurrency isn’t always a prison gentle in India but a few media have decorated it and posted that bitcoin or cryptocurrency is unlawful in India. On 20th Feb 2018, a cupboard meeting has been held in Delhi in which nos of payments have been passed for parliament and this invoice is

(a) Banning of Unregulated Deposit Schemes Bill, 2018 in parliament &
(b) Chit Funds (Amendment) Bill, 2018
The Union Cabinet chaired through the Prime Minister Shri Narendra Modi has given the approval to introduce the banning of Unregulated Deposit Schemes Bill, 2018 in Parliament. The bill is aimed at tackling the risk of illicit deposit-taking sports within the usa.

Features:
The Bill includes a substantial banning clause that bans Deposit Takers from selling, working, issuance advertisements or acceptive deposits in any Unregulated Deposit subject. The precept is that the Bill might ban unregulated deposit-taking activities altogether, through growing them companion degree offense ex-ante, as opposed to the triumphing legislative-cum-regulatory framework that totally comes into end result ex-post with huge time lags.
The Bill creates 3 differing forms of offenses, particularly, jogging of Unregulated Deposit Schemes, fraudulent default in Regulated Deposit Schemes, and wrongful inducement in appreciate to Unregulated Deposit Schemes.
The Bill affords for extreme penalization and severe economic system fines to behave as a deterrent.
The Bill has good enough provisions for puking or compensation of deposits in cases anyplace such schemes however manage to reinforce deposits illicitly.

For more details about cupboard invoice:

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**DISCLAIMER**: I am now not a financial consultant nor am I giving financial advice. I am sharing my biased opinion based on speculation. You ought to now not take my opinion as economic advice. Cryptocurrency buying and selling & mining is a risky commercial enterprise, We do now not guarantee any profit and earning from Bitcoin & other cryptocurrencies. You need to constantly do your research earlier than making any funding. You have to additionally recognize the dangers of making an investment. This is all speculative based investing. we will no longer chargeable for any loss.

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