Cryptocurrencies: Crypto gets the jitters

Ever since cryptocurrencies arrived on the world investment scene in 2009, their journey has been astonishing.

Online platforms such as Bloomberg and Investopedia have estimated that there are around 1.5 crore crypto investors in India already.

The laconic prologue to the proposed Cryptocurrency and Regulation of Official Digital Currency (CRDC) Bill, 2021, unveiled on November 23, has left India’s crypto-financial backers in a condition of frenzy. While it was broadly expected around and around acquainted with India’s freshly discovered love for crypto (see our past main story, named Cryptomania) that the Center would conceivably acquire new standards to control digital forms of money, a sweeping restriction on all private crypto was sudden. The bill is probably going to be postponed in the impending meeting of Parliament, which gets going on November 29.

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