India's crypto ban is coming, hodlers to be given transition period: Bloomberg

Cointelegraph

Published Feb 12, 2021 12:55AM ET

Updated Feb 13, 2021 02:40AM ET

An anonymous source claiming to be a senior Indian Finance Ministry official has claimed that the use of crypto assets will soon be completely banned in the world’s second most populated country.

Speaking to Bloomberg, the source claimed that the use of cryptocurrency in all its forms will be banned under a new law expected to soon be introduced in the parliament. Transacting with crypto via foreign exchanges will also be prohibited.

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