India govt new bill on cryptocurrency regulation!Current bitcoin news update in hindi

Cabinet approves New Bill to ban Unregulated Deposit Schemes and Chit Funds (Amendment) Bill, 2018
Earlier, the finance ministry had warned investors of investing in cryptocurrencies, saying those who invest in crypto they do it at their own risk and in recent union budget he told that cryptocurrency is not a legal tender in India but some media have decorated it and published that bitcoin or cryptocurrency is illegal in India. On 20th Feb 2018, a cabinet meeting has been held in Delhi where two nos of bills have been passed for parliament and this bill is

(a) Banning of Unregulated Deposit Schemes Bill, 2018 in parliament &
(b) Chit Funds (Amendment) Bill, 2018
The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given the approval to introduce the banning of Unregulated Deposit Schemes Bill, 2018 in Parliament. The bill is aimed at tackling the menace of illicit deposit-taking activities in the country.
Details:
complete prohibition of unregulated deposit-taking activity;
deterrent social control for promoting or in operation an unregulated deposit-taking scheme;
the stringent penalty for dishonest default in compensation to depositors;
designation of a Competent Authority by the government to confirm compensation of deposits in the event of default by a deposit-taking establishment;
powers and functions of the competent authority together with the ability to connect assets of a defaulting establishment;
designation of Courts to superintend compensation of depositors and to try to take|to do} offenses under the Act; and
listing of Regulated Deposit Schemes within the Bill, with a clause enabling the Central Government to expand or prune the list.
Features:
The Bill contains a substantive banning clause that bans Deposit Takers from promoting, operating, issuance advertisements or acceptive deposits in any Unregulated Deposit theme. The principle is that the Bill would ban unregulated deposit-taking activities altogether, by creating them associate degree offense ex-ante, instead of the prevailing legislative-cum-regulatory framework that solely comes into result ex-post with sizable time lags.
The Bill creates 3 differing kinds of offenses, namely, running of Unregulated Deposit Schemes, fraudulent default in Regulated Deposit Schemes, and wrongful inducement in respect to Unregulated Deposit Schemes.
The Bill provides for severe penalization and serious monetary system fines to act as a deterrent.
The Bill has adequate provisions for puking or reimbursement of deposits in cases wherever such schemes nevertheless manage to boost deposits illicitly.
The Finance Minister in the Budget Speech 2016-17 had announced that a comprehensive central legislation wouldbe brought in to deal with the menace of illicit deposit taking schemes, as in the recent past, there have been rising instances of people in various parts of the country beingdefrauded by illicit deposit taking schemes. The worst victims of these schemes are the poor and the financially illiterate, and the operations of such schemes are oftenspread over many States. Subsequently, Finance Minister in the Budget Speech 2017-18 had announced that the draft bill to curtail the menace of illicit deposit schemes had been placed in the public domain and would be introduced shortly after its finalization.

For more details about cabinet bill: https://goo.gl/nFJsE6

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latest cryptocurrency news in hindi!big mining project in iceland and russia!news of ataricoin!PF:https://www.youtube.com/watch?v=M9KiFc7EUeg
Bitcoin Back: good news from the US: https://www.youtube.com/watch?v=rjNw7bU-gnc
India Govt Put into jail for Bitcoin trading:
https://www.youtube.com/watch?v=2lAliJMHjO8
EXCITING NEWS FOR BITCOIN! FUD VS REAL NEWS!: https://www.youtube.com/watch?v=j95LP-lxoJ8
Budget2018: https://www.youtube.com/watch?v=19DXkptP77c
Top7 alt coin: https://www.youtube.com/watch?v=BvVCjF8mAA4
Bitcoin $100000: https://www.youtube.com/watch?v=ED-JZoPvMTM
**DISCLAIMER**: I am not a financial advisor nor am I giving financial advice. I am sharing my biased opinion based on speculation. You should not take my opinion as financial advice. Cryptocurrency trading & mining is a risky business, We do not guarantee any profit and earning from Bitcoin & other cryptocurrencies. You should always do your research before making any investment. You should also understand the risks of investing. This is all speculative based investing. we will not responsible for any loss.

India govt new bill on cryptocurrency regulation!Current bitcoin news update in hindi

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