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Crypto prices in India tumble after crypto bill announced
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Regulatory discussions in India around a crypto ban caused panic selling on major crypto exchange WazirX, resulting in massive price drop on leading cryptocurrencies including Bitcoin (BTC) and Ether (ETH).
Crypto prices in India crashed soon after the parliament announced to introduce and list 26 new bills in the Winter Session, which included the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021. As Cointelegraph reported, the bill seeks a legislative vote on creating an official digital currency while imposing a ban on “all private cryptocurrencies,” starting Nov. 29.
A mass sell-off on WazirX in the morning of Nov. 24 at 3:30 a.m. UTC tanked the price of Bitcoin from nearly Rs. 4,600,000 ($61,820.73) to Rs. 3,917,659
Read more on cointelegraph.comAbout this in other media
Cryptocurrency Prices today on December 4: Market goes red while Gifto rises over 54% moneycontrol.com /3 years ago
New Crypto Bill: Private Cryptocurrency To Be Regulated, Not Banned; Crypto Not Legal Currency In India: 5 Points ndtv.com /3 years ago
India: What the crypto-bill might mean for investors’ annual buying quota ambcrypto.com /3 years ago
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