Cryptocurrencies dumped 50% on Indian Exchanges after Government Plans to bring regulation

Bitcoin News

After a rumour came out that the Indian government is planning to ban bitcoin and other private cryptocurrency, almost all coins including USDT falls up to 50 per cent on Indian exchanges.

After the news of regulation on crypto, major cryptocurrencies like Bitcoin (BTC) and ethereum (ETH) falls to INR 33,50,000 ($42,948) INR 2,50,850 ($3,216), respectively. Along with this, Dogecoin were trading at INR 12.5 ($0.16) after the news.

As per the Loksabha website, the winter session will begin on 29 November and will list 26 bills including Cryptocurrency regulation. As per sources, RBI planning to bring its cryptocurrency.

Cryptocurrency Investment in India

More than 10 Crores (100 Million) people holds cryptocurrency in India. The cryptocurrency market surges around 650% in India this year.

Also Read: Government of India plans to bring cryptocurrency bill in winter legislative session

As per chain analysis data, in India crypto investments grew from $923 Million to a whopping $6.6 Billion in May 2021.

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