India to Ban Private Cryptocurrency, Bitcoin, Ethereum, and Tether Prices Crash by 15-18 %

 New Delhi: India is planning to bring a Bill in the winter session of Parliament scheduled to start from November 29 to block all private cryptocurrencies in India, with few exceptions, and create and regulate digital currency issued by the Reserve Bank of India (RBI).

After this news in media, all major digital currencies including Bitcoin, Ethereum, and Tether saw a fall of around 15 percent and more.

According to sources, there are more than 15 million crypto investors in India, with total crypto holdings of around ₹ 40,000 crores.

on November 18, Prime Minister Narendra Modi had urged all countries to ensure that cryptocurrency does not “end up in the wrong hands”.

Earlier on March 4, 2021, the Supreme Court had set aside an RBI circular prohibiting banks and entities regulated by it from providing services concerning virtual currencies.


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