The government once again manages to shoot itself in the foot.

This sort of a bill will only deter speculative crypto investors who are fairly new to the market. Right now, trade veterans are looking into storing their investment into personal wallets. https://twitter.com/just1doctorwala/status/1361025057229709312

When the inevitable happens as more companies embrace crypto, India will be left in the back burner without being able to capitalize on the innovation.

For as much the government preaches about youth and novel products, there seems to be a severe disconnect whenever it comes to stifling any form of innovation.

There are very likely behind-the-scenes players (big banks et al) that have a vested interest in this bill.

I'm very interested to know a libertarian's POV on this bill. Maybe @jaiminism could provide his opinion.

Additionally, this could also stigmatize companies venturing into blockchain tech in the future as anything connected to crypto might be considered radioactive.