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Indian Crypto Bill Under Consideration For Finalisation; Bitcoin Fall Continues

Bitcoin was down by 0.25 per cent in the last 24 hours, while Dogecoin fell by 1.44 per cent. Finance Ministry of India said that crypto bill is under consideration for finalization by the Cabinet.

Indian Crypto Bill Under Consideration For Finalisation; Bitcoin Fall Continues
Indian Crypto Bill Under Consideration For Finalisation; Bitcoin Fall Continues
outlookindia.com
2021-12-13T19:29:06+05:30

Ministry of Finance informed during the winter session of Parliament in Lok Sabha (Lower House) that a bill on Cryptocurrency and Regulation of official digital currency is under consideration of the Cabinet for finalization. Previously, the Minsitry mentioned that PM Modi to take the final call on crypto regulations in India. Meanwhile, all mainstream cryptocurrencies are falling for the last 24 hours on December 13, data of coinmarketcap.com showed. 

The price of Bitcoin (BTC) fell by 0.25 per cent in the last 24 hours and was trading at $48,745.32 at 4:30 pm while its dominance in the crypto market is currently 41.23 per cent, an increase of 0.12 per cent over the day. Ethereum (ETH) fell 0.12 per cent and was trading at $3,997.68, Binance Coin (BNB) with the fall of 3.36 per cent was trading at $548.19. Solana (SOL) was trading at $166.70, falling by 0.84 per cent, and Cardano (ADA) fell by 1.94 per cent to $1.31.

Meme Coins 

Except for Dogecoin (DOGE) all major meme coins such as Shiba Inu (SHIB), Dogelon Mars (ELON), and Samoyedcoin (SAMO) have all had their prices rise in the last 24 hours.

Dogecoin witnessed a fall of 1.44 per cent and was trading at $0.1648 at 4:30 am. Rival Shiba Inu was up by 3.36 per cent and was trading at $0.00003482, Dogelon Mars rise by 1.39 per cent and was trading at $0.000001171, while Samoyedcoin was trading at $0.0401 and recorded a jump of 0.72 per cent.

 Overall Scenario

The global crypto market cap was $2.24 trillion, registering a decrease of 0.35 per cent in the last 24 hours, while the total crypto market volume was $72.82 billion, up by 4.66 per cent.

BEMIL Coin (BEM) became the biggest gainer, recording a rise of 4675.65 per cent; it was trading at $0.2008 at 4:30 am. On the other hand, Big Brain Capital DAO (BBC DAO) witnessed maximum loss, falling 96.22 per cent; it was trading at $0.0000001642.

Latest Update 

Ministry of Finance in the reply to a question in Lok Sabha said that the government has not collected data on digital currencies. “However, eight cases concerning cryptocurrency-related fraud are under investigation by the Directorate of Enforcement. Also, the Bengaluru zonal unit of ED has registered a case with respect to Bitcoin” mentioned the ministry.

Singapore-based Cryptocurrency exchange AscendEX suffered a hack for an estimated $77 million company informed via Twitter on Sunday. 

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