The government on Tuesday listed the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, which seeks to restrict all private cryptocurrencies in India, for introduction during the Winter Session of Parliament.
The price of cryptocurrencies in Indian rupee terms has rebounded from a 20% to 25% drop following the government's announcement on Tuesday that the Crypto Bill would be introduced in Parliament during the Winter Session..
When this post was written, Bitcoin was up 6.34 percent in the last 24 hours, according to data from WazirX.
While Bitcoin was trading at Rs 44.79 lakh, prices for Ethereum, Dogecoin, Shiba Inu stood at Rs 3.36 lakh, Rs 16.7, and Rs 0.003011 respectively, at the time of filing this report
The government's announcement had little effect on foreign prices of the cryptos
While noting that the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 is expected to be introduced along with 25 other bills and that it aims to prohibit all private Indian cryptocurrencies, government officials announced on Tuesday that the bill would be introduced as soon as possible.
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