According to Bloomberg, "India will consider imprisoning people who hold, trade, and exploit cryptocurrencies for 1 to 10 years." After the first exposure of the report, the online response varied from anger to suspicion. Although many people condemned the government and possibly introduced and implemented such behavior, some people questioned the authenticity of Bloomberg's report. DesiCryptoHodlr, one of India's most important encryption supporters, commented on the report: "This seems to be another attempt by Bloomberg to make a more desperate attempt to get more opinions. Let us not believe in such anonymous news, wait for the official notice of the authorities Just a few days ago, the Reserve Bank of India (RBI) provided a written response to the recent RTI, which neither knew nor participated in any cryptocurrency bans introduced in the country.