If this is the future of crypto then i want out.,,polititians want cbdc and or regulation of private crpto/bitcoin.too much volitivity for my health.Has the horse already bolted? time will tell..good luck to holders.Regulatory discussions in India around a crypto ban caused panic selling on major crypto exchange WazirX, resulting in a massive price drop for leading cryptocurrencies, including Bitcoin (BTC) and Ether (ETH).
Crypto prices in India crashed soon after parliament announced to introduce and list 26 new bills in the Winter Session, which included the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021. As Cointelegraph reported, the bill seeks a legislative vote on creating an official digital currency while imposing a ban on “all private cryptocurrencies,” starting on Monday.
A mass sell-off on WazirX on Wednesday morning at 3:30 am UTC tanked the price of Bitcoin from nearly 4,600,000 Indian rupees ($61,820.73) to 3,917,659 rupees ($52,650.55), a drop of 14.8% within two hours. Similarly, other popular tokens, including Ether and Cardano (ADA), experienced double-digit price depreciation locally on the exchange.
