New Delhi: Crypto markets crashed following news of the government introducing a Bill in the Parliament to prohibit all private cryptocurrencies in India, barring a few exceptions to “promote the underlying technology of cryptocurrency and its uses”.
Major cryptocurrencies saw a dip of around 15 per cent or more, with Bitcoin down over 17 percent, Ethereum falling by close to 15 per cent, and Tether down by almost 18 per cent.
The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, will be introduced in the Parliament in the upcoming winter session that starts on November 29.
