Bitcoin price fell to a low of Rs 33.5 lakh on Wednesday morning, per data from cryptocurrency exchange WazirX. It was down over 25 percent from the previous day’s close. However, the price of bitcoin fell only over 2.5 percent to $56,000 on Binance, the world’s largest exchange by volume. The price differential was because prices on different exchanges are driven by different own demand and supply figures, which opens an arbitrage opportunity.
The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021 is likely to be tabled in the winter session of Parliament beginning November 29.
Cryptocurrency is a bogey that Indian govt needs to ban, not regulate
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