Lawmakers in India have proposed a crypto bill that is considered by many to be ludicrous. The country is clamping down on cryptocurrency with an extreme proposal that would make Bitcoin and crypto ownership completely illegal. Those caught holding, mining, owning, or trading any digital asset could face a prison sentence of 10 years.
The bill coincides with the country’s plan to launch its own state-backed cryptocurrency—the Digital Rupee. The message is clear; people will have to engage with crypto the government’s way or not at all.
India’s Proposed Crypto BillThe bill proposes ...
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