![]() ![]() This enforcement policy is apparently part of the proposed bill “Banning Cryptocurrencies and Regulation of Official Digital Currency Bill 2019,” said The Block.Įarly drafts of this bill appeared at least as far back as April as a means to ban crypto activities in India. To allow online vendors to easily accept KBC, Bitcoin or Ether in their online store, Karatbars International the company behind the idea of KBC came up. Lashkariya and another promoter, Mohan Patel, have reportedly “gone underground.”Īs previously reported by Cointelegraph, Indian legislators have recently proposed a bill that would punish crypto enthusiasts in the country with up to 10 years in jail for violating the country’s anti-crypto laws. Stay up to date with the latest Karatgold Coin. According to the latest data gathered, the current price of Karatgold Coin is 0.001 and KBC is currently ranked in the entire crypto ecosystem. This offer played a major role in bringing more investors to the company.” Karatgold Coin (KBC) - BTC - Live Karatgold Coin prices from all markets and KBC coin market Capitalization. KBC coins were reportedly issued at 10 paisas apiece, with the promise that they would skyrocket in value to 10 rupees in a short time - a 100-fold return on investment.Īccording to a CID member, an individual named Baljeetsingh Lashkariya promoted KBC via a pyramid scheme, saying that the “first investor in the chain would get an incentive from the last circle of investors. ![]() KBC reportedly launched 6 months ago, and its price has not moved since. A certain number of KBCs can be exchanged for the corresponding amount of CashGold at any time.The Criminal Investigation Department (CID) of India has arrested Vijay Prajapati, Dhiraj Patel, Kamruddin Syed, and Ashiq Shaikh, the alleged creators of the cryptocurrency KBC Coin, according to a report by The Times of India on July 4.Īs per the report, the CID argues that KBC is a Ponzi Scheme. The KaratGold Coin is a blockchain-based cryptocurrency linked to physically deposited gold in the form of CashGold, a gold standard.
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