Cryptocurrencies to be banned in India? Govt panel recommends strict action

Inter-Ministerial Committee of the Indian government has recommended a complete ban on cryptocurrencies, with fines and penalties on those carrying related activities.

The committee recommended the move due to the risks and volatility in prices of cryptocurrencies.

Govt of India: As for pvt cryptocurrencies, given the risks associated&volatility in their prices, Inter-Ministerial Committee has recommended banning of cryptocurrencies in India&imposing fines and penalties for carrying any activities connected with cryptocurrencies in India. pic.twitter.com/NcjkNoBXug

— ANI (@ANI) July 22, 2019