Cryptocurrency prices in India crashed early on Wednesday after a government bulletin listed the introduction of a new cryptocurrency regulation bill in the upcoming winter session of the parliament that seeks to prohibit all private cryptocurrencies in India. The prices, however, recovered later.Bitcoin prices crashed as much as 26 percent to roughly Rs 33,50,000 lakh on the Indian exchange before recovering.
Ether also lost over 20 percent to roughly $3,622 or Rs 2.6 lakh. At 11.17 am, Bitcoin was at Rs 39,49,501, down 14 percent.
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