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Anti-Crypto Law Draft Proposes 10-Year Jail for Dealing in Bitcoin, Cryptocurrencies

Besides making it completely illegal, the bill makes holding of cryptos a non-bailable offence

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Bitcoin is the most popular cryptocurrency in the world. Pixabay

Holding, selling or dealing in cryptocurrencies such as Bitcoin could soon land you in jail for 10 years.

The “Banning of Cryptocurrency and Regulation of Official Digital Currency Bill 2019” draft has proposed 10-year prison sentence for persons who “mine, generate, hold, sell, transfer, dispose, issue or deal in cryptocurrencies.

Besides making it completely illegal, the bill makes holding of cryptos a non-bailable offence.

A cryptocurrency is a digital or virtual currency that uses cryptography for security and is generally based on blockchain technology, a distributed ledger enforced by a disparate network of computers. Bitcoin is the most popular cryptocurrency in the world.

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) Holding, selling or dealing in cryptocurrencies such as Bitcoin could soon land you in jail for 10 years. Pixabay

Given the high chances of cryptocurrencies being misused for money laundering, various government bodies such as the Income Tax Department and the Central Board of Indirect Taxes and Customs (CBIC) had endorsed banning of cryptocurrencies.

The draft bill for banning cryptocurrency has been in the works for some time with Economic Affairs Secretary Subhash Chandra Garg leading the exercise.

While strict law would soon be in place to deal with people indulging in trade of cryptocurrency, India is likely to have its own digital currency.

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“A decision on the launch of Digital Rupee would be taken after consulting the Reserve Bank of India (RBI),” said an official. (IANS)

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Draft Education Policy: Government Revises Policy after Outrage, Hindi Not Mandatory

The modifications have been made to the section 4.5.9 of the draft policy

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The revised draft does not mandate the languages. Pixabay

Following the outrage from the southern Indian states, the HRD Ministry on Monday omitted the mandatory teaching of Hindi from the draft of National Education Policy (NEP). The revised draft does not mandate the languages that students may opt to study at mid-school level.

The modifications have been made to the section 4.5.9 of the draft policy, which was earlier titled “flexibility in the choice of languages”.

While advocating for the study of three languages, the revised version is now titled “flexibility in the three-language formula” and it does not pin-point the languages students would be studying. It simply states that the students would have the choice to study three languages with one language at the literature level.

“In keeping with the principle of flexibility, students who wish to change one or more of the three languages they are studying may do so in Grade 6 or Grade 7, so long as they are able to still demonstrate proficiency in three languages (one language at the literature level) in their modular Board Examinations some time during secondary school,” the tweaked version uploaded on the Ministry’s website stated.

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The HRD Ministry on Monday omitted the mandatory teaching of Hindi. Pixabay

It is pertinent to note that the recommendations of the earlier version stated that the students could make a choice of the third language they wish to study in Class 6, as long as the other two languages included Hindi and English for non-Hindi speaking states.

“In keeping with the principle of flexibility, students who wish to change one of the three languages they are studying may do so in Grade 6, so long as the study of three languages by students in the Hindi-speaking states would continue to include Hindi and English and one of the modern Indian languages from other parts of India, while the study of languages by students in the non-Hindi-speaking states would include the regional language, Hindi and English,” the earlier version stated.

This mandatory clause was met with uproar from the politicians and citizens of Tamil Nadu and Karnataka, who slammed the draft policy for imposition of Hindi allegedly in order to homogenise the nation’s diverse linguistic fabric.

The NEP draft was uploaded on the Ministry’s website on Friday to seek recommendations from the public as well as the other states. It sparked a row ever since, with all the opposition parties in Tamil Nadu, including DMK, MDMK, Congress and Kamal Haasan-led Makkkal Needhi Maiyyam slamming the recommendations.

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NDA ally and ruling AIADMK too, said that it wouldn’t discontinue the two-language formula followed by the state, which does not mandate teaching Hindi.

Former Chief Minister of Karnataka, Siddaramaiah on Monday joined the slugfest on mandatory Hindi teaching terming it a “brutal assault” on the non-Hindi speaking states.

“Ours is a land that exhibits Unity in Diversity. Peaceful coexistence is the need to establish harmony and any force shall work against the laws of society. For us Kannada is an identity, and learning any other language should be by choice and not by imposition,” Siddaramaiah tweeted.

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Recommendations of the earlier version stated that the students could make a choice of the third language they wish to study in Class 6. Pixabay

Maharashtra Navnirman Sena (MNS) also joined the ranks. “Hindi is not our mother tongue, do not enforce it on us and incite us,” the official twitter handle of MNS said.

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On Sunday, the Centre deputed senior cabinet ministers Nirmala Sitharaman and S. Jaishankar to calm the flaring tempers across the country. The newly sworn-in Ministers tweeted in Tamil as well as English reassuring the people that no language will be imposed and the policy will not be effected without consultations with the other states. (IANS)