Thread by @simplykashif

DISCLAIMER: The thread is based on the news report by @ndtv and @Sonal_MK. They have based their news on cabinet note that is to be presented in front of the cabinet that may or may not get approval.

1. NO BAN ON PRIVATE CRYPTOCURRENCIES.

1/

2. NO.1 PRIORITY OF THE GOVERNMENT IS THAT IT DOSEN'T WANT THE CRYPTO TO GO IN DARKNET POST BAN.

2/

3. CHANGE IN THE NAME OF LEGISLATION, CRYPTOCURRENCY WILL BE TERMED AS CRYPTO ASSETS.

CRYPTO ASSETS WONT BE ALLOWED FOR PAYMENTS. THEY ARE NOT LEGAL TENDER.

3/

4. SEBI IS GOING TO BE THE REGULATOR FOR INDIAN EXCHANGES.

CRYPTO ASSETS WILL BE REGULATED THROUGH EXCHANGES BY SEBI.

4/

5. ALL CRYPTO ASSETS NEEDED TO BE DECLARED AND TRANSFERRED TO INDIAN EXCHANGES.

YOU WONT BE ALLOWED TO KEEP CRYPTO ON FORGEIN EXCHANGES OR PRIVATE WALLETS.

5/

6. THERE IS GOING TO BE A CUT-OFF DATE TO DECLARE ALL YOUR CRYPTO ASSETS AND TRANSFER THEM TO INDIAN EXCHANGES.

DECLARATION POST CUT-OFF DATE A PENALTY IS PROPOSED.

6/

7. CBDC WILL BE ISSUED, GOVERNED AND MONITORED BY RBI.

7/

8. SOME AMENDMENTS WILL MADE IN MONEY LAUNGERING ACT TO INCLUDE CRYPTO AND TO KEEP CHECK ON MONEY LAUNDERING ACTIVITIES.

8/

Reminder that we should wait for the final cabinet note to get approved. Cabinet may or may not approve it. They might also recommend certain changes to be included.

Do not rush or base your decisions on news. Stay calm!

All N All a very +Ve development if this is true.

Link to NDTV News report:

https://twitter.com/ndtv/status/1466393616130220034?s=20