In cryptocurrencies, Bitcoin prices today were trading marginally lower, below $57,000 mark. The world’s largest and most popular cryptocurrency was trading at $56,671. Bitcoin had recently hit record high of around $69,000 and is up over 98% this year (year-to-date or YTD) so far.
Ether, the coin linked to ethereum blockchain and the second largest cryptocurrency, gained more than 3% to $4,270. Ether price has been trading around all-time high, catching up with bitcoin’s rally and riding on news of wider blockchain adoption.
Dogecoin price rallied nearly 2% to $0.22 whereas Shiba Inu plunged more than 7% to $0.000041, as per CoinDesk. The performance of other cryptocurrencies like Litecoin, XRP, Polkadot, Uniswap, Stellar, Cardano, Solana also were trading mixed over the last 24 hours.
Meanwhile, the Indian government’s legislative agenda for the upcoming winter session of Parliament showed it plans to ban ‘private cryptocurrencies’. The government is set to introduce “The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021″ in the winter session of Parliament beginning 29 November for consideration and passing.
The bill aims “to create a facilitative framework for the creation of the official digital currency to be issued by the Reserve Bank of India. The bill also seeks to prohibit all private cryptocurrencies in India; however, it allows for certain exceptions to promote the underlying technology of cryptocurrency and its uses,” it said in a notification on the Lok Sabha website. The definition of private crypto-currencies hasn’t been clarified by the government yet.
(With inputs from agencies)
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