Anthropic Eyes $350 Billion Valuation as AI Funding and Share Sale Accelerate 
China Extends Gold Buying Streak as Reserves Surge Despite Volatile Prices 
Gold Prices Slide Below $5,000 as Strong Dollar and Central Bank Outlook Weigh on Metals 
Instagram Outage Disrupts Thousands of U.S. Users 
Dollar Near Two-Week High as Stock Rout, AI Concerns and Global Events Drive Market Volatility 
Australia’s December Trade Surplus Expands but Falls Short of Expectations 
CK Hutchison Launches Arbitration After Panama Court Revokes Canal Port Licences 
Global Markets Slide as AI, Crypto, and Precious Metals Face Heightened Volatility 
Trump Lifts 25% Tariff on Indian Goods in Strategic U.S.–India Trade and Energy Deal 
Asian Stocks Slip as Tech Rout Deepens, Japan Steadies Ahead of Election 
Tencent Shares Slide After WeChat Restricts YuanBao AI Promotional Links 
Bank of Japan Signals Readiness for Near-Term Rate Hike as Inflation Nears Target 
Trump Endorses Japan’s Sanae Takaichi Ahead of Crucial Election Amid Market and China Tensions 
Oil Prices Slip as U.S.–Iran Talks Ease Supply Disruption Fears 
Gold and Silver Prices Rebound After Volatile Week Triggered by Fed Nomination 
Rio Tinto Shares Hit Record High After Ending Glencore Merger Talks 
OpenAI Expands Enterprise AI Strategy With Major Hiring Push Ahead of New Business Offering 
India is reportedly preparing to block private cryptocurrencies and instead push for the central bank’s release of the country’s official cryptocurrency. This setup may be similar to China’s move on banning crypto firms and declaring all digital currency transactions illegal.
According to The Guardian, the proposals for the crypto ban in India were flagged in a parliamentary bulletin listing for the upcoming legislation. The session will tackle “The Cryptocurrency and Regulation of Official Digital Currency Bill.”
“To create a facilitative framework for the creation of the official digital currency to be issued by the Reserve Bank of India,” the description of the proposed bill reads. “The bill also seeks to prohibit all private cryptocurrencies in India, however, it allows for certain exceptions to promote the underlying technology of cryptocurrency and its uses.”
The proposal came after the country’s Prime Minister, Narendra Modi, posted a tweet last week about cryptocurrencies. He said that nations should work together on crypto to make sure it will not end up in the wrong hands, and adding crypto may “spoil our youth.”
Take crypto-currency or bitcoin for example.
— PMO India (@PMOIndia) November 18, 2021
It is important that all democratic nations work together on this and ensure it does not end up in wrong hands, which can spoil our youth: PM @narendramodi
The head of investment analysis at AJ Bell, Laith Khalaf, shared his opinion on the proposed ban. He said the move is another obstacle to the growth and development of crypto in the country.
“India’s plan to ban cryptocurrencies has not wrought the same damage on the bitcoin price as China’s summer crackdown, but it nonetheless marks yet another stumbling block in crypto’s advancement as an economic force in the real world,” The Guardian quoted him as saying in a statement. “It is inevitable that cryptocurrencies will continue to encounter either greater regulation or prohibition in more jurisdictions around the world.”
Meanwhile, as the Indian government looks determined to ban all private cryptocurrencies, Outlook India reported that among the digital currencies that may be affected are Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Tether (USDT), and Solana (SOL). Also, meme coins, including Dogecoin (DOGE), Shiba Inu (SHIB) and Dogelon Mars (ELON), Samoyedcoin (SAMO), are also facing uncertainties.
