India will punish the use of Bitcoin with 10 years in prison and will launch its own cryptocurrency

All types of activities related to these circuits will be considered criminal, with heavy fines and penalties of up to 10 years in prison.

This is apparent from the document presented to the government by the Interdepartmental Committee appointed at the end of 2017.

According to the Economic Times, however, The Committee suggested that the Government and the Indian Central Bank develop a formal model for digital money to be introduced in the country. under the supervision of the Central Bank and with the establishment of a special supervisory body.