Indian legislature proposes a 10-year jail sentence for using cryptocurrencies
A draft bill entitled 'Banning Cryptocurrencies and Regulation of Official Digital Currency Bill 2019' circulating India's legislature would ban direct or indirect uses of cryptocurrencies with penalties of up to ten years in prison and fines three times the profits or 'losses to the system," according to The Block. The draft gives current users 90 days to dispose of any crypto holdings. Creating a digital rupee is also included in the legislation.
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