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Cryptocurrency Ban: Government's Plan To Ban Cryptocurrency Leads To Heavy Selling, Say Investors
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ndtv.comPlans by the Indian government for a new bill that would bar most private cryptocurrencies has triggered heavy selling in the country's digital currency markets, as investors look to exit positions despite the losses, said traders and investors.
The government will allow only certain cryptocurrencies to promote the underlying technology and its uses, according to a legislative agenda released late on Tuesday for the winter session of Parliament set to start this month.
The bill, if passed, would effectively ban citizens in India from transacting in most cryptocurrencies.
The dollar-linked stable coin tether (USDT) slumped 25 per cent to nearly 60 rupees ($0.8061) on Wednesday after news of the bill, according to Naimish Sanghvi, a
Read more on ndtv.comAbout this in other media
All Private Cryptocurrency Will Be Regulated, Not Banned: Sources ndtv.com /2 years ago
Difficult To Ban Cryptos Outright, Says Cryptocurrency Expert ndtv.com /2 years ago
Is it really possible to completely ban Cryptocurrency in India? Check experiences from other countries financialexpress.com /2 years ago
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