New Delhi: Join the RSS Swadeshi Jagran Manch On Sunday, a resolution was passed demanding the central government to completely ban the purchase, sale, investment and otherwise transactions of cryptocurrencies by any person in the country.
Law relating to issuance of digital currency by reserve Bank of India Should be created “quickly” and the Central Bank Digital Currency (CBDC) is considered legal tender, indigenous Jagran Manch ,Swadeshi Jagran Manch) at its fifteenth national meeting.
“The resolution was passed on the 15th” Rashtriya Sabha Swadeshi Jagran Manch concluded today in Gwalior.
“The government should ban the purchase, sale, investment and otherwise transactions in cryptocurrencies by any person resident in India,” the resolution demanded.
It also said that people holding crypto may be allowed to sell or exchange it within a short period of time, subject to the provision of submitting information to the Income Tax Department.
“The person/entity should be liable for financial penalty for violating the ban,” the resolution said.
The resolution passed at the national meeting of the SJM argued that recognizing cryptocurrencies could lead to heavy speculation and adversely affect the financial market.
“The recognition may result in money laundering and terror financing as well as backdoor capital account convertibility,” it said.
The Union Ministries of Consumer Affairs and Corporate Affairs should launch “aggressive” consumer awareness campaigns, especially after the ban on cryptocurrencies, to advise not to fall prey to “misleading advertisements” circulated by “so-called cryptocurrency exchanges”. , SJM in its proposal said that Tier-2 and Tier-3 cities.
“The law relating to the issuance of digital currency by the Reserve Bank of India should be prepared expeditiously. CBDC should be treated as legal tender,” it said, adding, “Cryptocurrencies like bitcoin, ethereum, etc. should be recognized as an asset or digital asset as it will indirectly become a medium of exchange like currency. ”
Law relating to issuance of digital currency by reserve Bank of India Should be created “quickly” and the Central Bank Digital Currency (CBDC) is considered legal tender, indigenous Jagran Manch ,Swadeshi Jagran Manch) at its fifteenth national meeting.
“The resolution was passed on the 15th” Rashtriya Sabha Swadeshi Jagran Manch concluded today in Gwalior.
“The government should ban the purchase, sale, investment and otherwise transactions in cryptocurrencies by any person resident in India,” the resolution demanded.
It also said that people holding crypto may be allowed to sell or exchange it within a short period of time, subject to the provision of submitting information to the Income Tax Department.
“The person/entity should be liable for financial penalty for violating the ban,” the resolution said.
The resolution passed at the national meeting of the SJM argued that recognizing cryptocurrencies could lead to heavy speculation and adversely affect the financial market.
“The recognition may result in money laundering and terror financing as well as backdoor capital account convertibility,” it said.
The Union Ministries of Consumer Affairs and Corporate Affairs should launch “aggressive” consumer awareness campaigns, especially after the ban on cryptocurrencies, to advise not to fall prey to “misleading advertisements” circulated by “so-called cryptocurrency exchanges”. , SJM in its proposal said that Tier-2 and Tier-3 cities.
“The law relating to the issuance of digital currency by the Reserve Bank of India should be prepared expeditiously. CBDC should be treated as legal tender,” it said, adding, “Cryptocurrencies like bitcoin, ethereum, etc. should be recognized as an asset or digital asset as it will indirectly become a medium of exchange like currency. ”