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Indian crypto investors press the sell button
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economictimes.indiatimes.comMumbai: Indian holders of cryptocurrency went into panic-selling mode Tuesday, flooding the exchanges at midnight after being spooked by the wording of a government release that implied a ban on all private virtual coin. Prices of the most-valued cryptocurrencies such as Bitcoin and Ethereum fell as much as 15%.
Crypto exchanges took to calming investors, urging them not to rush into selling. The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, which will be introduced in the next session of Parliament “seeks to prohibit all private cryptocurrencies in India" but allows for «certain exceptions to promote the underlying technology and its uses”, according to the Lok Sabha bulletin issued Tuesday evening.
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