March 3, 2021

24X7 News Guru

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Investor’s wealth will fall if govt bans crypto trade

A ban on cryptocurrencies like Bitcoin may result in wealth erosion for about 1 crore Indian investors, including 10 lakh traders, who are estimated to own assets collectively worth over Rs 10,000 crore. Crypto entrepreneurs said that a ban won’t just hurt their business but also lead to gains for foreign firms and increased action on the black market....

A ban on cryptocurrencies like Bitcoin may result in wealth erosion for about 1 crore Indian investors, including 10 lakh traders, who are estimated to own assets collectively worth over Rs 10,000 crore. Crypto entrepreneurs said that a ban won’t just hurt their business but also lead to gains for foreign firms and increased action on the black market.

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