Popular cryptocurrency Bitcoin today rose 0.49 percent to $50,188.4 at 1004 GMT. The cryptocurrency is up 81 percent from its low of $27,734 on January 4, 2021.
Ether, another popular virtual currency, rose 1.16 percent to $3,932.07 on Sunday, adding $44.97 to its previous close.
Earlier, government officials told CNBC-TV18 that Centre was planning to table the cryptocurrency bill in the next session of the parliament.
CNBC-TV18’s Sapna Das reported that the government was in favour of furthering the use of blockchain technology and the bill was also likely to address the issue of RBI's digital currency.
Avinash Shekhar, co-CEO, ZebPay, said, “Having a clear regulatory framework around cryptos will help investors, businesses, and entrepreneurs to confidently participate in this industry and we’re looking forward to the upcoming guidelines and policies from the government.”
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“We hope to see cryptos classifies as an asset class and have laws in place on their taxation just like the other financial markets. There are thousands of different cryptos in the market with different use cases which work on different blockchain platforms. We’re sure the policymakers will look into how they can be used both as an asset class and also take advantage of the underlying blockchains for their use cases to cater improve India’s infrastructure needs in various industries.”
He said having clear laws around cryptos will have a positive impact on investors, especially when it comes to the taxation of cryptos.
This will also help in keeping bad players out of this emerging technology, he said. According to him, Crypto assets are still in their early stages. With clear regulations “we hope to see more Indian investors confidently taking the benefits of an early market”, he said.
-With agency inputs
(Edited by : Bivekananda Biswas)
First Published: IST