The Bitcoin scandal blame game touched a new low in the state among Karnataka politicians as leading of ruling BJP and opposition Congress indulged in personal attacks
Some analysts say a sharp pullback is normal after prices skyrocketed 40% in October
According to UK researcher CryptoCompare, Binance's spot cryptocurrency trading volumes totalled $789 bn in Sept and $454 bn in July
Bitcoin fell to a one-month low on Friday and was headed for its worst week in six months
Senior Congress leader Siddaramaiah hit back at the ruling party accusing it of trying to hide its "corruption" and attempting to get personal to pursue "dirty agenda" in politics.
The party once again demanded a judicial probe by a sitting judge
India is likely to bar the use of cryptocurrencies for transactions or making payments, but allow them to be held as assets like gold, shares or bonds
Global crypto market cap has dropped some 10 % in the past 24 hours, according to CoinGecko.
Bitcoin, the largest digital token, was down 4% at about $61,400 as of 1:32 p.m. in Singapore. Second-ranked Ether slid as much as 6.8%.
Bitcoin went through a major upgrade on Sunday that enables its blockchain to execute more complex transactions
Karnataka CM Basavaraj Bommai slammed Congress party over alleged bitcoin scam and said that 'issue had become bigger' because the Opposition did not probe matter properly when in power.
BJP on Saturday dismissed the Congress party's allegations on the Bitcoin issue cover-up, saying there was no scam.
The meeting was an outcome of a consultative process between the RBI, finance ministry, and the home ministry
Attempts to mislead youth by over-promising, non-transparent ads on cryptocurrency should stop were discussed at the meet, say sources
The Congress alleged a multi-crore Bitcoin scam and its cover-up by the BJP govt in Karnataka and demanded that an independent investigation be conducted by a Supreme Court-monitored SIT.
Chief Minister Basavaraj Bommai called on former Chief Minister B S Yediyurappa amid the opposition allegations that the BJP government was not doing enough to probe the alleged Bitcoin scam.
Unlike dollars or any other traditional currency, the digital coin is designed to have a limited supply, so it can't be devalued by a government or a central bank distributing too much of it
Govt must address regulatory concerns
Karnataka Chief Minister Basavaraj Bommai on Thursday said that Prime Minister Narendra Modi has asked him not to bother about the Bitcoin scandal in the state
Value shares, digital currencies, gold and bets on a flatter yield curve are seen as some of the potential beneficiaries from a higher inflation environment