India’s new crypto bill plans to ban private players
There is a concern in the market that India may go for a ban on private cryptocurrencies. The winter session will begin on 29th November. The government also plans to create a new digital currency that will be issued by RBI.
Mixed messages on crypto tax rules create confusion in South Korea
South Korean government officials have created confusion this year with conflicting announcements regarding a possible repeal or amendment of the upcoming crypto tax set to come into effect in 2022.
Huge panic selling led to crash in WazirX
The government’s proposal to ban private cryptocurrencies in India with certain exceptions led to massive amounts of panic selling on Tuesday night leading to the crash of India’s biggest crypto exchange, WazirX. USDT-INR pair had crashed yesterday.
Crypto billionaire Su Zhu dumps Ethereum due to high fees
The CEO of Singapore-based hedge fund Three Arrows Capital Ltd, Su Zhu, is abandoning the Ethereum network due to its high transaction fees. The users are required to pay fees to miners for their transactions to be confirmed and added to the blockchain. The value of transaction costs is primarily driven by how congested the network is. If the demand for processing transactions through the Ethereum network is high, fees will also be high.
Shiba Inu in danger of ‘topping signal’ as SHIB price loses 50% in 3 weeks
SHIB’s price dropped to as low as $0.00004251 on Nov. 19 after correcting by almost 55% from its all-time high of $0.00008854. Its price recovered a small portion of its losses on Friday, but the move looked indecisive due to weaker trade volumes.