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Bitcoin Vs Dollar Rate: Bitcoin was last down 9.84 per cent at $47,930.3 in choppy trading Bitcoin slumped as much as 17 per cent to $45,000 on Tuesday, February 23, amid concerns from investors over the cryptocurrency s sky-high valuations, triggering the liquidation of leveraged bets. The world s most popular cryptocurrency faced its biggest daily drop in a month, as it lost steam and fell to the $45,000 mark. Bitcoin was last down 9.84 per cent at $47,930.3 in choppy trading. The massive drop in prices took its losses to over a fifth from a record high of $58,354 hit on Sunday, February 21, and underscored the volatility of the emerging asset. However, the cryptocurrency is still up around 60 per cent this year. ( ....
Reserve Bank of India said that it is working on a digital version of the rupee Digital Currency in India: The government revealed in its budget session that it plans to introduce a new bill on cryptocurrencies, namely the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, which will ban all private cryptocurrencies such as bitcoin and put in place a framework for an official digital currency to be issued by the Reserve Bank of India, according to a legislative agenda listed by the government. Finance Minister Nirmala Sitharaman said in the Rajya Sabha on February 9 that a high-level Inter-Ministerial Committee constituted under the Chairmanship of Secretary (Economic Affairs) will study the issues related to virtual currencies. ( ....