Individuals, corporates to be fined for using cryptocurrencies: Govt

Indian organizations and people are probably not going to be permitted to pull a Tesla and reserve overabundance money in cryptocurrencies that have been on an eye-popping flood if another bill proposed by the government is cleared by parliament. 

A draft charge expected to be introduced soon, proposes a total prohibition on all private cryptocurrencies - decentralized computerized cash that is valued for being untraceable and a light valuation while laying foundation for the authority advanced money, sources have told NDTV. 

Almost 7 mn Indians hold cryptocurrencies worth more than $1 bn and there has been a more than 700% expansion in the most recent year, as indicated by true gauges.