I think in terms of my own interest in the global crypto market for a very long time. Now that the price of bitcoin crossed $47,000 after Elon Musk’s electronic car company Tesla entered an investment of $1.5 billion in Bitcoin. Now the price is almost $47,500 while I am writing this post at 11.40 AM on February 14th.
I was reading an on Tuesday, the Indian Minister of State for Finance, he said in the Upper house that the government will soon bring a new bill for cryptocurrencies as the existing laws cannot address the concerns related to them.
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We should keep a close watch on Bitcoin Cash as it’s going crazy doing the last few days and has gone absolutely insane in the last few hours.
Indian Government in readiness to curb cryptocurrency, but the financial sector as well investors hope that government will listen to their side too. Like Bitcoin, India will have its own digital currency, RBI said it will be announced soon
Reserve Bank of India is working on its own digital currency like bitcoin as per the latest news coming from the trusted sectors. Does it sound wise? Not to me though!
Elon Musk’s Tesla's plans to invest $1.5 billion in Bitcoin, and plans to take payments in Cryptocurrency must have done both to Tesla and Bitcoin. Let's hope another crypto group will come up with something similar to give more authenticity to the crypto-world.
The Indiana State Minister for Finance said in response to a question that regulatory entities like RBI and SEBI do not have any lawful authority to regulate or directly handle cryptocurrency as it is not a currency, asset, security, or commodity issued by certified users.
He said that the existing laws do not deal with them. So they have no right to say it wrong or right. Just imagine if the Indians gave a free hand on Cryptocurrencies what and how the crypto world will react or how fast the prices will jump forward.
The Indian government has set up an inter-ministerial committee, which will submit its report on the virtuous currency. The Indian Minister said that a bill on cryptocurrency is being finalized and it will be placed before the cabinet soon. The Indian government says it will bring a new bill soon. Wow.
Considering the risk associated with virtual currency including Bitcoin, Indian RBI had issued a circular issued in April 2018 advising all the units under its purview not to transact in virtual currency nor provide any related services. However, the Supreme Court, through an order dated March 4, 2020, imposed this circular of RBI.
Let's hope all governments will think beyond illegal involvement but the investment in a positive way.
Bitcoin price crosses $ 47,000. The cryptocurrency market has been witnessing a tremendous boom in the last 3 days. The prices of Bitcoin, Litecoin, and Dogecoin have increased drastically.
Yesterday, in the world’s most popular cryptocurrency Bitcoin prices had reached record highs. Today the price of a bitcoin is trading at $ 47,553. In the last 24 hours, Bitcoin prices have increased by 21.47 percent and the market cap (m-cap) of Bitcoin has increased to more than $886.16 billion,
It has gone down a bit though at the time of posting this article
And how about Bitcoin cash and Dogecoin... These two are doing better than my expectation!
