New Delhi: With cryptocurrencies gaining traction around the world day by day, India is also starting several discussions about the impact of cryptocurrencies on the country’s financial sector. India’s Prime Minister Narendra Modi announced for the first time in the public forum that all democracies in the world must work together on cryptocurrency to ensure that it “does not fall into the wrong hands”.
Therefore, it is important for investors to have a fair knowledge of cryptocurrencies. Here are some top stories you would like to know:
India is making great strides in regulation as polkadot increases
Bitcoin is currently trading at $ 60,414, up 2.68% with a dominance of 43.04%. Ethereum was up 5.14% and was trading at $ 4,320. Polkadots also saw a nearly 9% increase. Also, India has made significant strides in regulating cryptocurrencies with the government likely to stop using cryptocurrency as an asset like gold, stocks, bonds, etc.
India Could Ban Transactions In Crypto and Allow Crypto Holdings: Report
India may refrain from using cryptocurrency for transactions or payments, but consider them as assets such as gold, stocks or bonds. According to the sources, SEBI could be given the mandate to regulate the cryptocurrency.
Bitcoin falls as China cracks down on “extremely harmful” crypto mining
China is again cracking down on crypto mining, calling it an “extremely harmful” practice aimed at jeopardizing the country’s efforts to reduce carbon emissions into subsidized electricity for crypto mining purposes.
Crypto exchanges can slow down advertising after concerns were raised by the center
Following Prime Minister Narendra Modi’s comment on cryptocurrency advertisements that harbor the potential risk of misleading Indian youth, WazirX and BitBnS decided to suspend their coverage in print or digital media. In addition, other crypto exchanges have also limited their advertising reach.
Don’t ignore Shaktikanta Das repeated warnings about crypto – here’s why?
RBI Governor Shaktikanta Das warned on several occasions while speaking about cryptocurrency, the government, which is now preparing to issue an ordinance, to delve deeply into the issues involved.