India Considers Prison Time for Crypto Users

Imagine using bitcoin, Ethereum or any of your favorite cryptocurrencies to purchase goods and services. Picture yourself investing in these coins, trading them, and building a solid nest egg with them. Now, imagine yourself stuck in a prison cell for engaging in this behavior.Crypto Use in India = Jail Time?Sadly, this is a route that India is considering, according to a new report. The country is considering a ten-year prison sentence for all those who engage in crypto-related behavior, whether it’s trading coins, selling them, or using them to buy things from online retailers.India’s relationship with cryptocurrencies has consistently been up and down. In 2017, the nation’s Reserve Bank decided that all banks would no longer be able to engage in business with cryptocurrency enterprises, meaning several new exchanges and similar companies could not get access to loans, funds or solid credit.Since then, India has sought new ways to keep…

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