India Proposes Law to Tighten Noose on Ponzi Schemes; ICOs May Take a Hit

Under the proposed Unregulated Deposit Schemes Bill, a person or institution running an unregulated deposit or Ponzi scheme will have to face seven years in jail. Cryptocurrencies have been kept outside the purvey of the legislation, but an expert told Sputnik that initial coin offerings may face the heat.

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