The government of India has further tightened norms for crypto by disallowing losses incurred in a particular digital asset to be set off against income from another version of a crypto holding, finance minister said on Monday. However, to give some relief to the crypto investors, the government has also said that the loss on one crypto can be offset with a body organ whose cost is more than or equal to the loss on particular crypto coin.
Speaking to The Fauxy, a government official said “Crypto investors consist of less than .01% vote base so let them cry“.
Crypto investors, traders and experts are disappointed with the clarification as many fear this would lead to the death as many of them would end up selling all their organs.
Government has set some guidelines regarding selling organs.
- The organs has to be fully functional at the time of sale
- Organ once sold can’t be taken back even if the investor makes profit on the same crypto coin
- If organ exists in pair then the investor has to sell the organ in pair (i.e a pair of eyes)
The government is still framing the Crypto regulation bill and details on that are awaited.
