India proposes 10 year jail for owning or trading crypto

Indian

Strange things always happen in India and this time around, it has left the sublime to the ridiculous.

Here is it:

A draft law in India proposes to jail anyone who owns, trade or hold Bitcoin or any cryptocurrency for that matter.

The Indian cryptocurrency community is one of the largest in the world and the bill would definitely meet serious legal fireworks on its way.

We can only hope India would change the stereotype as a land of strange things.

However, this bill is not only absurd, but out of touch with reality and modernisation.

According to the Economic Times of India, people who run foul of the law when bill finally becomes a law.

But wait for it:

Despite planning to jail anyone, India wants to float its own cryptocurrency called ‘Digital Rupee’. If this doesn’t sound ridiculous, nothing would.