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India PM Modi to Make Final Call on Cryptocurrencies

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Fri, 12/10/2021 - 10:12
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Arman Shirinyan
Indian government will say its final word on the bill that could potentially impose jail time for illegal cryptocurrency usage
India PM Modi to Make Final Call on Cryptocurrencies
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India's Prime Minister, Narendra Modi, is going to express his final thoughts on the new regulatory framework that the Indian government has been developing in order to properly regulate the $3 billion industry.

Previously, the draft of the future bill was finalized by the finance ministry of the country, but certain sections are yet to be discussed and should be more detailed, according to Reuters' sources.

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India Will Jail Citizens for Using Crypto as Payment Tool

Indian government officials are going to meet later today in order to reach a final decision on the proposed bill. The soonest parliament session will be one of the final meetings on the bill that will include discussion on the aforementioned section.

The finance ministry has not yet confirmed Reuters' rumors on Modi's future statement about the bill.

Previously, U.Today reported that the Indian government will impose real jail time on individuals who are going to continue their operations with cryptocurrencies after the finalized version of the bill is approved by parliament.

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About the author

Arman Shirinyan is a trader, crypto enthusiast and SMM expert with more than four years of experience.

Arman strongly believes that cryptocurrencies and the blockchain will be of constant use in the future. Currently, he focuses on news, articles with deep analysis of crypto projects and technical analysis of cryptocurrency trading pairs.