An Indian government panel has recommended banning all private cryptocurrencies and a jail term of up to 10 years and heavy fines for anyone dealing in digital currencies, which could signal the end of them in India. The panel drew up a report and draft legislation, which will be examined by the government and regulators before they make a final decision, the government said in a statement on Monday. The panel has, however, asked the government to consider the launch of an official government-backed digital currency in India, to function like bank notes, through the Reserve Bank of India. Authorities in various ... (full story)