Crypto Prices Crash After Centre Plans Bill To Bar Private Cryptocurrencies
All crypto prices crashed by 15 per cent and more, hours after the government announced that it will introduce the cryptocurrency bill in the Parliament's winter session, which seeks to prohibit all private cryptocurrencies in the country, with a few exceptions.
Also, the government will introduce the Banking Laws (Amendment) Bill 2021 - which aims to privatise two public sector banks, in the forthcoming Winter session of Parliament, which will commence from November 29.
Aditionally, India decided to release five million barrels of crude oil from its strategic petroleum reserves (SPRs) simultaneously with countries like the US, Japan, China and Republic of Korea. The decision has come amid reports that the US has urged these nations to release crude oil from their respective reserves. The move is being considered to bring down global fuel prices.
Meanwhile, the government today also released two instalments of tax devolution to states totaling Rs 95,082 crore, as a step towards boosting investment in the infrastructure sector.
Earlier in stock markets today, shares of data analytics firm Latent View Analytics opened for trading at a 160 per cent premium from its issue price of Rs 197 and Indian equity benchmarks snapped their four-day losing streak paced by gains in metal, state-run banking, pharma and oil & gas shares.