Hazy rules delink Indian cryptos from global markets
According to industry sources, some of the investors who sold Bitcoin on Monday raised their holding of USTD (or Tether), a crypto coin which are backed by same amount of fiat currency like US dollar.
Synopsis
Absence of an arbitrage can sometimes keep crypto prices in India artificially high — as it happened on Monday
Mumbai: An early Sunday flash crash that shook traders in the world’s cryptocurrency hotspots, where betting goes on 24/7, has brought to the fore the curious and cocooned nature of this magic money market in India.
A blackout in China’s Xinjiang region and unconfirmed reports that financial institutions, suspected of using cryptos to launder money, would be probed by the US government sparked a selloff. Prices of Bitcoin and other
