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Tue. Nov 30th, 2021
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What is a cryptocurrency bill?

The Modi government has announced to beat private cryptocurrency in India and bring its own crypto. The government has announced that a cryptocurrency bill will be introduced in the coming winter session. The government will introduce the Cryptocurrency and the Official Digital Currency Regulation Bill 2021. With this bill, the government is setting up a Reserve Bank of India framework for issuing cryptocurrencies. The government is preparing to introduce a provision in the bill that would ban private cryptocurrencies in India. It is said that the government may have some options to promote its technology and use. Important meeting of the Parliamentary Committee on Crypto Exchange, Blockchain last week. A meeting was held with representatives of the business world, including the Crypto Asset Council, after which it was stated that this cryptocurrency cannot be stopped, but it is important to make rules for it.

RBI's displeasure over crypto market

RBI’s displeasure over crypto market

The Reserve Bank of India has repeatedly expressed displeasure over the cryptocurrency bar. Many years after the RBI, there was talk of regulatory and in-depth negotiations. Sebi has also on several occasions expressed concern over the rapid growth of crypto. At the same time, the government has made it clear that it will soon launch its own cryptocurrency.

    The state of the crypto market after the cryptocurrency bill

The state of the crypto market after the cryptocurrency bill

The cryptocurrency market was shaken on Wednesday after the announcement of the cryptocurrency bill. Bitcoin prices have fallen by 26 per cent. On Wednesday, the price of Bitcoin reached Rs 3499468, while the price of ether fell 23 per cent to Rs 264140. At the same time, the price of Teether fell by 23 per cent to Rs 63.

    What is cryptocurrency

What is cryptocurrency

The government is preparing to ban all private cryptocurrencies. To curb private cryptocurrency, the government is preparing to introduce the Cryptocurrency and Regulation of Official Digital Currency Bill 2021 in the winter session of Parliament. Let me tell you that cryptocurrency is a decentralized system over which no one has any control. It is not controlled by any government or company, which is why it is so volatile. This currency works on blockchain technology and the distribution system. The important thing is that not many hackers can hack this technology and no one can tamper with it.

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