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Bitcoin India Ban News Today : Breaking News, Live Updates & Top Stories | Vimarsana

bitcoin classification in india as asset may not solve regulation problem

rakesh jhunjhunwala: India s Bitcoin owners get sinking feeling as Jhunjhunwala calls for its ban

Mumbai: For the Bitcoin investors in India, the ground is shrinking beneath their feet. Or so it seems. As the government prepares to bring in a bill that will likely ban the use of all private cryptocurrencies, Bitcoin is looking increasingly likely to enter its second bear market in as many months, underpinning the difficulties in owning the digital asset. Price of Bitcoin has crashed over 17 per cent from their all-time high of $58,332 in the past 24 hours amid negative comments from Tesla owner Elon Musk and US Treasury Secretary Janet Yellen. Technically, an asset is said to be in a bear market if it falls more than 20 per cent from recent high.

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