Indians could soon be penalised for holding Bitcoin, says new report News
(Representational Image)
Bitcoin and a number of other cryptocurrencies are currently surging at their highest. However, the Indian government seems to be once again trying to ban crypto trading in the country. The government during the Budget 2021 revealed its plan to propose a new bill, which is intended to ban digital money in the country and also fine anyone trading or holding any crypto assets. Also Read - Buy a Electric Tesla car using Bitcoin in the future: Elon Musk
According to a report by
Reuters, the new bill is looking to criminalise possession, issuance, mining, trading and transferring any crypto assets in the country. If the bill is passed, it will make India the first major economy to make holding cryptocurrency illegal. Countries like China have banned mining and trading crypto, but do not penalise their possession. Also Read - Bitcoin Explained: What is it, trading legalities i
Updated Dec 27, 2020 | 15:56 IST
On Binance, the largest cryptocurrency exchange by trading volume, Bitcoin was trading at USD 26,286.74, as of 20:45 GMT on Saturday. Bitcoin value surges past $26,000 to set all-time record high | Photo Credit: Getty
World s most popular cryptocurrency Bitcoin has surged to $26,000 level to set a new high, as per trading data. The cryptocurrency which first made its debut in 2011, reached the historic $20,000 mark in 2017.
According to trading data on Binance which is the largest cryptocurrency exchange by volume, Bitcoin was trading at USD 26,286.74, as of 20:45 GMT on Saturday.
According to CoinMarketCap, an aggregator that compiles data from more than 20 brokers, Bitcoin was trading at $26,270.96 as of 20:47 GMT, a rise of 7.36% over the preceding 24 hours, according to ANI.