Regulation around bitcoin and other digital assets has raged over recent years, but the Indian government could be about to take one of the firmest stands against cryptocurrencies in the world.
A government official has reportedly told Reuters that the country will propose a ban on bitcoin and its rival digital assets.
The bill would criminalise the possession, issuance, mining, trading and transferring of crypto-assets, the official said.
Those already in possession of bitcoin and its brethren will have six months to dispose of their assets.
This move would surpass China, which has banned mining and trading but not ownership.
Staggering increase in value
Bitcoin has been on a rapid ascent since the start of the pandemic.
On 13 March 2021, the price broke through the $60,000 (£43,131, €50,283) barrier for the first time.
Compare that with exactly one year previously, when the price was just over $5,100.
