According to media sources, Indian government departments are discussing the 2019 Act on the prohibition of cryptocurrencies and the official regulation of digital currencies, and once passed, Once the bill is passed, it is an offence to hold, buy and sell digital currencies such as Bitcoin in India, and the penalties are very severe and can be punishable by 1-10 years in prison.
It is worth noting that digital currency crime is identifiable, so this kind of crime can not apply for bail, this penalty is as serious as rape, homicide crime. If passed, India could become the first country to legislate against digital currencies such as bitcoin.
While the digital money market is trading brisklythere is a global regulatory divide.
In general, more than half of the world’s countries are still waiting to see if digital currencies are legitimate due to privacy risks, transaction risks and operational risks.