The Indian Crypto Market Soars Down Because Of the Crypto Banning Bill Discussions
India is a largely populated country; it counts the most of the crypto owners of the world. This is why the Indian market has always been a premium segment to trade on. But the regulatory discussions about the bill banning private crypto ownership made it shrunk down to the global level.
The biggest Indian crypto exchange, WazirX, experienced a wave of panic selling that crashed down the prices for the crypto assets all over the world, even of such giants as Bitcoin and Ethereum.
This bill caused many concerns in the crypto community, but they still believe it won’t last long due to the decentralized nature of the cryptocurrency that contradicts it. However, some right wing Indians believe that crypto should be regulated very strictly.