Crytocurrency Trade News Today : Breaking News, Live Updates & Top Stories | Vimarsana

MUMBAI: A ban on cryptocurrencies like Bitcoin may result in wealth erosion for about 1 crore Indian investors, including 10 lakh traders, who are estimated to own assets collectively worth over Rs 10,000 crore. Crypto entrepreneurs said that a ban won’t just hurt their business but also lead to gains for foreign firms and increased action on the black market. A complete ban will force self-regulated exchanges to shut down, said Nischal Shetty, co-founder & CEO of WazirX, one of India’s largest cryptocurrency bourses. “It will also eliminate possible data avenues for the government and...

We'll soon meet in your inbox. Please wait... The government should look at regulating cryptocurrencies instead of a complete ban, investors and cyber law experts told TOI. Indian investors, however, will not face prosecution for prior actions if a ban is implemented. The value of a single Bitcoin was at $58,000 on Sunday and its market capitalisation was $1.1 trillion — which would make Bitcoin the sixth most valued stock had it been a company. Shetty said a ban is not a solution and that is primarily why the US, the UK and Singapore are working on regulation. “There are over 340 crypto ...