Centre’s cryptocurrency ban plan said to spur heavy selling
The Hindu
Traders said several exchanges were facing deposit and withdrawal challenges
Plans by the government for a new bill that would has triggered heavy selling in the country’s digital currency markets, as investors look to exit positions despite the losses, said traders and investors.
The government will allow only certain cryptocurrencies to promote the underlying technology and its uses, according to a legislative agenda for the winter session of Parliament set to start this month.
The bill, if passed, would effectively ban Indian citizens from transacting in most cryptocurrencies.
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