Bitcoin’s boom has dazzled the eyes of the entire world. There is also no shortage of people investing in Bitcoin or similar cryptocurrencies in India. But now all these people can get a big shock. If sources are to be believed, the Digital Currency Bill 2021 is almost ready and the government will introduce it in this Parliament session. In this bill, along with banning cryptocurrency in India, its trading, mining, transfer and holding can be made a criminal offence. So what will happen to the investment so far, will there not be any kind of digital currency in India. All these things will be discussed today.
Will bitcoin close in India?
Bitcoin may be banned in India. A new bill will be introduced in the budget session. Digital Currency Bill 2021 is ready. Under this, any kind of cryptocurrency will be banned. Mining and transfer of crypto will be a crime. The government will bring its digital currency. This digital currency will come through RBI. The bill is not finalized yet.
What will happen to bitcoin investment?
There may be an opportunity to withdraw from the investment. It may take 3-6 months for this. Investors may have to pay a penalty. Keeping cryptocurrency would be a crime. All trading exchanges will be banned. It would be a crime to keep and sell it. Mining and transfer will also be punishable offences. In such cases, there will be a provision for both fine and imprisonment.
Investment in cryptocurrency
It invested $ 24 million in 2020. India invested 5 million dollars in 2019.
Return on bitcoin
Today its price has reached around 35 lakh rupees. In 2021, returns of more than 35 percent have been received. It has set a lifetime high of $ 49,695 in 2021. It has given 800 per cent returns since April last year.
Tesla is going to invest $ 1.5 billion in it. Tesla will accept payment for its products in bitcoins. This year Mastercard will allow merchants to accept payments in crypto currency. Preparation to support digital currency.
Cryptocurrency business in India
The bill was listed on 29 January. The process of creating a digital currency legislative framework was official. The concerned ministries started the drafting. Talking about trading in crypto currency, the market is awaiting the definition of private currency. Cryptocurrency is called public blockchain. India has a $ 1 billion investment in digital currency. There are over 8 million investors.