Too Long; Didn't Read
A draft bill, titled Banning of Cryptocurrency & Regulation of Official Digital Currency Bill 2019, has thrown off the optimism of several crypto investors and many tech-focused startups in the country, by calling for criminalisation and jail term for trading in crypto. India’s long-standing aversion to cryptocurrencies has never been a secret. Despite the challenges posed to it by the lack of regulatory support, the crypto community in India had soldiered on, hoping to usher in a “Digital India” that would have space for crypto assets.