Cryptocurrency holders, miners, and traders may soon need to liquidate their assets as the government may impose penalties on those who failed to do so.
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The Indian government is coming up with a new Bill proposal that will make cryptocurrency trading illegal in India and could ban all related transactions to it.
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The new Bill proposes to forbid possession, issuance, mining, and trading in crypto assets that encompass all cryptocurrencies including Bitcoin and Dogecoin.
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Reports have indicated that if the ban on cryptocurrency will be implemented as the law then India will officially become the first country to illegalize holding cryptocurrency assets.
