Update on bitcoin india

Some believe extreme volatility is a cause for concern. Similar to bitcoin, Dogecoin is a digital coin that is mainly used for e-transactions and its meme has a picture of the shiba inu on it. Invented by software engineers Billy Markus and Jackson Palmer in , the price of Dogecoin saw a mammoth rise after Reddit traders targeted it.

The announcement comes amid renewed interest shown by Musk in cryptocurrency and requests from Tesla customers for accepting bitcoin for buying the cars.

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Musk has also been sending tweets in support of Dogecoin over the past week, leading to a rise in the cryptocurrency's value. As India plans to introduce the 'Cryptocurrency and Regulation of Official Digital Currency Bill, ', to prohibit all "private cryptocurrencies" in the country, the industry stakeholders have come out in unison hoping that the Indian government would listen to all stakeholders before taking any decision.

Actually, after the billionaire entrepreneur was back again on Twitter, he tweeted his support for cryptocurrency Dogecoin.

Elon Musk shared a series of tweets on Dogecoin. He added that authorities should focus on giving out the first dose of vaccines soon and worry about the second shot later, to speed things up.

Indian Government Officials Give Mixed Signals Over Planned Crypto Legislation - CoinDesk

The government is planning to introduce a law which will seek to prohibit the private cryptocurrencies in India and create a facilitative framework for an official digital currency issued by the Reserve Bank of India. The legislative is listed for debate in the ongoing parliamentary session. After the rise, it became a meme fest on the internet and the memes surged almost as much as the price of the cryptocurrency did. Elon Musk wrote simply " bitcoin" in his biography on the social media site, Twitter. By continuing to use the site, you agree to the use of cookies.

Indian Government Officials Give Mixed Signals Over Planned Crypto Legislation

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Elon Musk warns investors against spending lifetime savings in cryptocurrency The video was released just a day before the Tesla made its bitcoin investment public on Sunday February 7. Considering the gamut of opportunities it can bring around, many are looking at the positive impact it can have on the Indian economy. Cryptocurrencies, especially Bitcoin, is now being considered as a safe-haven asset against market volatility and inflation.

The current societal and economic climate also brings about a situation for people to hold less cash and stay hedged against market swings. Have you read these stories? India's COVID situation is turning from "bad to worse," a senior government official said on Tuesday, as infections surge across se ET NOW. Brand Solutions. ET India Inc. ET Markets Conclave — Cryptocurrency. The Economic Times Startup Awards Reshape Tomorrow Tomorrow is different. Let's reshape it today.

bitcoin india

TomorrowMakers Let's get smarter about money. Corning Gorilla Glass TougherTogether. Great Manager Awards. Powered by. RBI has major concerns on cryptocurrencies, flagged it to govt: Shaktikanta Das The comments come in light of what has been termed as confusi