![]() ![]() The best known crypto, the Bitcoin, has fluctuated wildly – Its price on Novemwas at a low of Rs 13,85,002.47, it rose to a high of Rs 47,80,831.12 on April 13, 2021, fell to Rs 22,20,156.34 on Jto again peak at Rs 49,95,249.61 on November 8, 2021. In India too it is believed that many with little savings have invested in these assets in recent times. Their market capitalization listed on one of the exchanges is $2.37 trillion. The PM, FM, parliamentary committee and RBI Governor have all weighed in on the issue since October.Ĭryptos have become a major asset. Earlier reports were that they would be banned. Speculation is that the Bill will propose regulation rather than a ban on use of private cryptos for transactions. But there is lack of clarity on what these entities are and how to deal with them. Cryptos are a virtual entity which can potentially be like cash with implications for monetary policy, etc. REUTERS/Jim Urquhart REUTERS/Jim Urquhart (UNITED STATES - Tags: BUSINESS)Ī bill to deal with the growing concern about cryptos is likely to be ready soon. Some of Bitcoin enthusiast Mike Caldwell's coins are pictured at his office in this photo illustration in Sandy, Utah, January 31, 2014. If a ban will not work, policy makers need to work out what regulation of cryptos as an asset is required to tackle major concerns regarding cyber security, rise in illegal activities and inequalities and macroeconomic issues. ![]()
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