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Exclusive: India Proposes 10-Year Jail For Cryptocurrency Use, May Introduce Its Own Digital Currency

India has proposed a jail term of one to ten years for those who mine, hold or sell cryptocurrencies.

A collection of bitcoin, litecoin and ethereum tokens sit in this arranged photograph. (Photographer: Chris Ratcliffe/Bloomberg)
A collection of bitcoin, litecoin and ethereum tokens sit in this arranged photograph. (Photographer: Chris Ratcliffe/Bloomberg)
India has proposed a jail term of one to 10 years for those who mine, hold or sell cryptocurrencies, a move that will double down on restrictions already placed by the Reserve Bank of India on digital tokens like bitcoin.The government will also propose the introduction of an official ‘Digital Rupee’ in consultation with the central board of the Reserve Bank of India, according to the draft Banning of Cryptocurrency and Regulation of...
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