There was an atmosphere of despair among crypto investors after the central government imposed 30 percent tax on cryptocurrencies and virtual assets in the budget this year. After almost a month, there is good news for crypto investors. US President Joe Biden has signed an executive order banning government surveillance of cryptocurrencies, rekindling the hopes of crypto investors around the world.
According to a government order signed by President Joe Biden, US government agencies will explore the possibilities of launching a digital currency in the US. Along with this, the risks associated with the use of cryptocurrencies such as whether there is any threat to the financial stability and national security of the country will also be thoroughly investigated.
The boom in the crypto market: The crypto market saw a boom after the signing of the executive order of the US President on 10 March. Bitcoin, the world’s largest cryptocurrency, crossed the $42,000 level with a gain of 10 per cent. However, due to other reasons, bitcoin fell below $39000 on March 11. Along with this, let us tell you that other big cryptocurrencies Ethereum, Tether and BNB also saw a rise.
crypto investors in india According to a report by market research company ChainAnalysis, there are more than 15 million crypto investors in India and India is the second fastest growing crypto market in the world. According to another report, people of India have invested about 400 billion rupees in crypto. Most of the crypto investors are young people in the age group of 25 to 35 years. However, there is no official data on crypto figures yet.
In this year’s budget, Finance Minister Nirmala Sitharaman had announced to launch the country’s digital currency in 2023. No information has been revealed on how India’s digital currency will work and how different it will be from crypto currency.