26-April-2024
Markets and Finance
 
Centre may offer an exit window to cryptocurrency holders
13-Apr-2021

The government is considering a provision to provide an exit window to holders of cryptocurrencies (cryptos), keeping in mind that banning them outright could deal a blow to investors sitting on them for years. According to sources in the government, the framework in the making may propose a grace period of three to six months for investors before prohibiting the possession, trading, mining, and issuing of cryptos. A group of secretaries chaired by the Cabinet secretary is learnt to have met in mid-March and discussed issues associated with cryptos, including the consequences of banning them and also on possible substitutes of blockchain technology — an advanced technology Bitcoin uses.

News Source:- https://www.rediff.com/business/report/govt-may-offer-exit-window-to-cryptocurrency-holders/20210412.htm