India mulls stringent law that criminalises the possession, and issuance of cryptocurrencies

India mulls stringent law that criminalises the possession, and issuance of cryptocurrencies

Photographer: Chris Ratcliffe/Bloomberg

India will propose a law banning cryptocurrencies, fining anyone trading in the country or even holding such digital assets, a senior government official told Reuters in a potential blow to millions of investors piling into the red-hot asset class.

The bill, one of the world’s strictest policies against cryptocurrencies, would criminalise possession, issuance, mining, trading and transferring crypto-assets, said the official, who has direct knowledge of the plan.

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