Ether also saw a down surge and was trading at 7.88% on discount than its price 24 hours ago.
Dogecoin and Shiba Inu also saw a fall and were trading at 5.66% and 4.75% lower respectively.
Beijing’s top economic regulator National Development and Reform Commission stated that it will intensify regulations over digital currency mining to save energy and decrease carbon emission.
The letter reads, “Inter-ministerial committee and propose specifications to be taken in this matter recommended in its report that all private cryptocurrencies except any cryptocurrency issued by the State, be prohibited in India.