Connect with us

Hi, what are you looking for?

markets

Bitcoin Price in India Today Slightly Up Following Sudden Market Crash Amid Panic – News18

The Bill, ‘Cryptocurrency and Regulation of Official Digital Currency’ Bill, has sought to put a ban on the private digital tokens barring a few and introduce the Central Bank Digital Currency of the Reserve Bank of India instead.

Cryptocurrency prices in the Indian market declined up to 20 per cent on Wednesday as investors in a panic mode began selling their assets.

A similar knee-jerk reaction was seen in January, when the contents of the bill were disclosed,” WazirX CEO Nischal Shetty was quoted as saying by Times of India.

A bill to ban all private cryptocurrencies in India, with a few expectations to promote blockchain technology will be introduced in the upcoming winter session of the Parliament, the government said.

“To create a facilitative framework for creation of the official digital currency to be issued by the Reserve Bank of India,” it added.

Investors should wait for a government statement on this matter and not rely on secondary sources of information,” said Ashish Singhal, founder and CEO of CoinSwitch Kuber.

The government is concerned about the underground transactions happening against cryptocurrency — particularly its role in ‘hawala’ and terror funding,” sources told CNN-News18 on Wednesday.

…Read the full story

Advertisement. Scroll to continue reading.

You May Also Like

TS Prime

Every calendar quarter the World Gold Council publishes its Gold Demand Trends report. On November 1, 2018 it published its report for July 1...

Bitcoin

Nicosia, Cyprus, 26June,2021, ZEXPRWIRE, When a new project enters the market, establishing brand credibility is crucial, which is exactly what ADAX has done via...

Market

Medical marijuana has become the hottest crop in regards to treating a wide range of common ailments, from chronic pain to PTSD, and Colombia...

TS Prime

In an announcement last Wednesday the German Government announced it would fund a research facility in the country to develop new technologies for EV...

Advertisement