It might only be a draft bill, but you would appreciate the negative sentiments it sends out related to cryptos when this kind of news is prominently covered in the media. We all have seen Koinex shutting down their operations. The whole crypto space is in its infancy, and instead of regulating it and subsequently using the power of decentralized technology, you are trying to kill the whole thing.

Its no secret the over a period of time, world will move to decentralization and cryptos in some form will play an important part in it. So, instead of taking a proactive approach when other developed countries are trying to figure out how to handle it, coming up with this regressive ideas is not a good thing.