Uncertainty of Cryptocurrency Bill To Be Presented In India Moves The Market

The bill, which the Indian parliament will bring to the agenda in the coming weeks and there are uncertainties about how it will affect the legal status of cryptocurrencies, has led to activity in the local market.

According to the official statement released yesterday by the People’s Assembly “Crypto Currency and Official Digital Currency Regulation Draft 2021”, It will be discussed in the winter term of parliament.

Every year from three periods The last Indian parliament passed the winter term. Launched on November 29 It will end on December 23..

According to the official document published, within the scope of the draft “incorporating certain exceptions to support the underlying technology of cryptocurrencies” together, “Banning all private cryptocurrencies in India” will be discussed.

The Indian parliament has passed a similar bill. at the beginning of this year He also planned to meet, but this bill was never put on the agenda.

which will enter parliament in the winter term and content not yet known The bill sparked a stir in the cryptocurrency market in India. BTC/INR parity on WazirX, one of the domestic exchanges, in dollar terms in the morning up to under $52,000 fell.

Citing a government official, Reuters reports that the government’s plan is to pave the way for digital central bank money. ban all private cryptocurrencies it will be.

According to a report shared by CNN-News18 this morning, the government “total ban” cryptocurrencies rather than Some apps to prevent abuse will prepare.

used in the official document issued by the People’s Assembly “private cryptocurrency” It is not known which crypto assets the term covers.

According to unofficial data 15 million cryptocurrency users Narendra Modi, the prime minister of India, which is assumed to be about the effects on the younger generation had warned.

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