Share this article
India’s Crypto Bill Proposes ‘Arrest Without Warrant’: Report
Dealing in crypto could lead to an arrest without a warrant, and would be “non bailable,” according to the report.
By Amitoj Singh
Updated May 11, 2023, 3:57 p.m. Published Dec 7, 2021, 12:22 p.m.
The proposed crypto bill by the Indian government may bring about tougher measures for crypto, including time in jail for those who violate the law, Reuters reported on Tuesday, citing an unidentified source and the summary of the draft bill.
- The government is planning a “general prohibition on all activities by any individual on mining, generating, holding, selling, (or) dealing” in digital currencies as a “medium of exchange, store of value and a unit of account,” according to the summary of the bill seen by Reuters.
- Individuals who are found in violation could face arrest without a warrant, which could be “non-bailable,” the report added.
- India’s capital markets regulator, the Securities and Exchange Board of India (SEBI), will be the regulator for crypto assets, according to Reuters and other outlets. Violators of exchange provisions could face a jail term and fines of up to 200 million rupees ($2.65 million), according to previous reports.
- The reports come as a blow to expectations that the Indian government might take a more relaxed stance on crypto.
- The draft bill hasn’t been presented to the cabinet yet, and will have to go through parliament before becoming a law.
Read more:Indian Government Submits Bill to Ban Most Cryptocurrencies, Dashing Hopes for Friendlier Measure
STORY CONTINUES BELOW
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
U.S. Senate's Warren asks for Trump-tied crypto probe as market structure bill drags
The influential Democrat is the most vocal critic of the crypto legislation, and she continues to throw rhetorical sand in the gears of the negotiation.
What to know:
- U.S. Senator Elizabeth Warren, the ranking Democrat on the Senate Banking Committee, is calling for a probe into DeFi platforms, especially on their relationship with the business interests of President Donald Trump.
- Warren's pushback comes as the Senate is still negotiating the details of a crypto market structure bill, a process that's now drifted into January.
Top Stories
