The digital currency cryptocurrency in India would be waiting for the government to get a green signal if you were too. So great news for you. The hope of a cryptocurrency recognition in the country has now ended. In fact, the draft of the cryptocurrency ban and the official digital currency bill, 2019 (Banning of Cryptocurrency and Regulation of Official Digital Currency Bill, 2019), proposes that the purchase-sales of cryptocurrencies in the country be jailed for 10 years Will get punished.

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For your information, as per the draft, it will bring all the people in the JD who will produce the cryptocurrency, sell it, cryptocurrencies, send someone or deal with the cryptocurrency in any way. All these cases will be jailed for 10 years if convicted. The prohibition of cryptocurrencies and the official digital currency bill, 2019, has shocked all the cryptocurrency companies that are working on cryptocurrencies. Let us say that the Chairman of the panel who drafts the bill is economic affairs Secretary Subhash Chandra Girer. This panel also includes SEBI. According to a proposal made by the Panel, dealing in the cryptocurrency would be considered non-bailable, though the panel has also suggested the launch of digital currency.

A report surfaced a few days ago claiming that Facebook was preparing to launch its own cryptocurrency. Further, it was also reported that the cryptocurrency is soon going to launch for WhatsApp as well. Cryptocurrency is a currency you can't see. In easy words, you can call it the digital rupee. No bank releases the cryptocurrency. Only those who release it control. The biggest disadvantage is that you cannot complain about the rigging of the cryptocurrency, because it does not fall within the law of any country. This is used in the digital world.

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