A government panel in India has issued a recommendation to ban all “cryptocurrencies created by non-sovereigns,” a step which could be applied to Bitcoin. “The Committee notes with serious concern mushrooming of cryptocurrencies almost invariably issued abroad and numerous people in India investing in these cryptocurrencies. All these cryptocurrencies have been created by non-sovereigns and are in this sense entirely private enterprises,” their report reads. The panel said anyone dealing with digital currencies of any kind could face 10 years behind bars and be handed hefty fines. As part of its recommendation, the panel laid out the reasons why cryptocurrencies…
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