A shocking news today tells us that things may not be good for the crypto currency enthusiasts in India if a proposed draft bill is passed by the Government of India.
In what could be called the most regressive move, the Government of India is planning to curb the use, trade and holding of crypto-currencies in India, if a proposed draft bill is passedin the parliament. This will spell the death of this sector as the proposed penalty for doing so shall be a 10 year jail sentence!
The report below says
Anybody in India dealing in cryptocurrencies will be sent to jail for 10 years, says a proposal in the draft of Banning of Cryptocurrency and Regulation of Official Digital Currency Bill, 2019.
This move will surely dash any hopes that cryptocurrency will be eventually be regularised in India, and looks like the end of crypto in India if the bill indeed comes through.
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