10 years jail if you hold and trade any kind of cryptocurrency in India after the approval of Crypto regulation bill.
We have taken an initiative and approached India's top crypto leaders and influencers. We will be sharing their opinion and views in this article and other following articles in the text and video as well.
We have approached almost all top cryptocurrency leaders and influencers. One of the first to reply for this initiative was Mr. Zia - Ul - Haque ( Open4Profit ), Who is India's one of the oldest and leading crypto Influencer. He is activity working on youtube, twitter and other social media platform for crypto and blockchain.
As per his opinion, it was done to create fear of uncertainty in the India crypto market, he doesn’t think it will be true. But, if the news will be confirmed, then also you need to be prepared accordingly so that you will not face any problem in future. The big question is, whom you will going to punish, over 20% people are into crypto by any means. So according to this rumour, will our government put all the 20% people in India behind the bars. How it is possible ?
According to him, government will come up with regulations like limit to buy sale and also you have to maintain records and pay proper tax to the government on cryptocurrency rather than banning it totally.
He also raised some valid questions :
Cryptocurrency works peer to peer, it is based on decentralised technology. How the government will be able to identify, who is using it and who is not ?
How the government will identify, how many bitcoin or other cryptocurrency person has, if he is using online wallet or offline hardware wallet ?
People should not give much importance to this news, as still the situation in India is similar to ban and we all need to wait for actual government stand on cryptocurrency.
We are also sharing his opinion and views in video, which is in Hindi language :
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