Bill on Deposit Schemes to impact Crypto Ponzi Schemes

Bill on Deposit Schemes to impact Crypto Ponzi Schemes

Cabinet Committee on Economic Affairs (CCEA) has sanctioned the Unregulated Deposit Schemes Bill to prohibit unregulated deposit schemes. The measure is also expected to stiffen the trick around cryptocurrency linked Ponzi schemes. Chief of Blockchain and Cryptocurrency Committee declared that they are committed to supporting government’s move in banning crypto assets for payment.

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