Banning crypto market

Nothing seems fine with crypto-currency (virtual currency) investors. This time yet another bad news, which can prove final nail in the coffin for the investors, is that a high-level government panel has recommended ban on all cryptocurrencies in India. The committee, which submitted its recommendations to the government a week ago, has even proposed a draft bill, Banning of Cryptocurrency and Regulation of Official Digital Currency Bill, 2019. The only favourable thing for investors is that the committee has favoured launching of an official digital currency.

In my earlier columns, I had time and again warned about the high risk involved in investment in cryptocurrencies. It was a huge surprise when I learned that we have thousands of such investors who stand invested in different cryptocurrencies, especially Bitcoin.