10-Year jail for buying or selling of cryptocurrency in India.

10-Year jail for buying or selling of cryptocurrency in India, Report India proposes a draft bill suggesting 10-year prison term for holding or dealing in cryptocurrency If you are involved in holding, selling or dealing in cryptocurrencies such as Bitcoin and Ethereum in India, then you may want to think twice, as you could land yourself in jail for 10 years for doing so. Apparently, the recommendation is a part of the draft “Banning of Cryptocurrency and Regulation of Official Digital Currency Bill, 2019”, which will be applicable to those who “mine, generate, hold, sell, transfer, dispose, issue or deal in cryptocurrencies directly or indirectly,” according to a report by Bloomberg Quint. Besides this, the bill includes a penalty system for the offenders. “The penalty imposed on the accused, according to the bill, shall be either thrice the loss caused to the system, or three-fold the gains made by him/her, whichever is higher. If the loss or gain can’t be reasonably det...