Cryptocurrencies Show Resilience Today After India Confirms To Bring In Crypto Bill, 2021

The global crypto market cap as per CoinMarketCap as on Thursday (November 25, 2021) stands at $2.68 trillion, a 4.35% increase over the previous day. Overall volume in the crypto space has also registered an over 9 percent surge over the last 24 hours and is at $143.51 billion.

Cryptocurrencies Show Resilience Today After India Confirms To Bring In Crypto Bill, 2021

As of writing this copy at around 10:49 pm, crypto prices have recovered from lows with most of the cryptos barring a few trading in the green. Bitcoin the largest and the most popular crypto was up by over 4 percent over the previous day and quoted at a price of $59,110. Likewise, Ethereum, Binance Coin, Tether, Solana, Cardano, Ripple, Polkadot and Dogecoin among others traded with modest gains.

Notably, Indian government has listed a Bill seeking to ban all private cryptocurrencies, except for a few to promote the underlying technology of cryptocurrency and its uses, the government said in a notification on Lok Sabha website.

There has been a confirmation of late that the government shall introduce ' the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021" during the Winter session of the Parliament that begins from November 29, 2021. The bill also aims "to create a facilitative framework for creation of the official digital currency to be issued by the Reserve Bank of India".

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