The authorities in India are preparing a bill to ban cryptocurrency in the country

The Indian government is preparing a bill to ban cryptocurrencies in the country, according to the Hindustan Times.

As specified, this bill provides for criminal liability for the possession, release, trade and transfer of cryptoassets. It is emphasized that if this document is adopted, then India will become the first major country in which the circulation of cryptocurrency will be illegal.

The newspaper noted that the bill is in line with the policy of the Indian government, which in January called for a ban on bitcoins when laying the foundation for an established online currency and identified it as an unproductive plus untrustworthy tool for monetary trades.

Earlier, the bitcoin rate rose above 59 thousand dollars, thereby updating the historical maximum.

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