India’s regulatory discussions around crypto bans caused panic selling at major cryptocurrency exchange WazirX. This resulted in massive drops in the prices of leading cryptocurrencies including (BTCEther (ETH).

Soon after the announcement by parliament to list 26 bills during the Winter Session (2021), the cryptocurrency, regulation of official digital currency bill, and other related bills, Indian cryptocurrency prices crashed. According to Cointelegraph, the bill seeks to regulate digital currency. Vote on a legislative bill to create a digital currency while imposing a ban on “all private cryptocurrencies,” starting on Monday.