{"id":36327,"date":"2021-02-12T11:26:53","date_gmt":"2021-02-12T09:26:53","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=36327"},"modified":"2025-08-29T05:47:08","modified_gmt":"2025-08-29T02:47:08","slug":"bloomberg-india-to-allow-cryptocurrency-holders-to-close-positions-ahead-of-ban","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bloomberg-india-to-allow-cryptocurrency-holders-to-close-positions-ahead-of-ban\/","title":{"rendered":"Bloomberg: India to allow cryptocurrency holders to close positions ahead of ban"},"content":{"rendered":"<p>Indian authorities will ensure a smooth transition to the ban on cryptocurrencies. Crypto-asset holders will have three to six months to close their positions, <a href=\"https:\/\/www.bloombergquint.com\/business\/intent-on-ban-india-to-give-transition-time-to-crypto-investors-bq-exclusive\" target=\"_blank\" rel=\"noopener\">Bloomberg<\/a> reports, citing an anonymous senior Finance Ministry official.<!--more--><\/p>\n<p>According to the source, if cryptocurrencies are retained after the transition period, the investments will be liquidated.<\/p>\n<p>Parliament will consider the government-proposed <a href=\"https:\/\/u1f987.com\/en\/news\/indian-parliament-to-consider-bill-banning-cryptocurrencies\">ban on digital assets<\/a> bill during the upcoming budget session. The country plans <a href=\"https:\/\/u1f987.com\/en\/news\/india-weighs-launch-of-its-own-digital-currency\">to issue its own digital currency<\/a>.<\/p>\n<p>In 2018, India prohibited banks and financial institutions from providing services to companies dealing in cryptocurrencies. In March last year, the Supreme Court overturned the restriction.<\/p>\n<p>In December 2020, India&#8217;s Central Bureau of Economic Intelligence proposed taxing cryptocurrency trading with an 18% GST.<\/p>\n<p>Subscribe to ForkLog news on Telegram: <a href=\"https:\/\/t.me\/forklogfeed\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog Feed<\/a> \u2014 the full feed of news, <a href=\"https:\/\/telegram.me\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">ForkLog<\/a> \u2014 the most important news and polls.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Indian authorities will ensure a smooth transition to the ban on cryptocurrencies. Crypto-asset holders will have three to six months to close their positions, Bloomberg reports, citing an anonymous senior Finance Ministry official.<\/p>\n","protected":false},"author":1,"featured_media":36328,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1305,278,36],"class_list":["post-36327","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-ban","tag-india","tag-regulation"],"aioseo_notices":[],"amp_enabled":true,"views":"36","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/36327","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=36327"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/36327\/revisions"}],"predecessor-version":[{"id":36329,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/36327\/revisions\/36329"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/36328"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=36327"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=36327"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=36327"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}