Bill on cryptocurrencies is being finalised, here’s what expert says

Cryptocurrency has been making a lot of news in India and the global markets and in terms of price moves. Bitcoin, for example, has gained by 20 percent overnight and seen all-time highs of $ 47,000. It has seen a 58 percent rise for year 2021.

Nischal Shetty, founder and Chief Executive of WazirX, said, “The markets are actually still reaction to the whole Elon Musk and Tesla news that happened yesterday with them buying over $1.5 billion in bitcoin so we are seeing a surge of new investors as well as older investors coming back again to buying more bitcoin because they see this as the start of many more companies around the world buying cryptocurrencies.”

While talking about the statement made by minister of state for finance Anurag Thakur in the parliament, he said, “It brings in more clarity compared to let us say two weeks ago what we had where one of the understanding is that this is drawing upon the older Garg committee report that was made public in 2019 which was titled as the ‘Banning of Cryptocurrency Bill, 2019’ now this has been probably tweaked to be called the ‘Cryptocurrency and Digital Currency Regulation Bill”.