India is looking to ban most crypto assets when it introduces a new bill to regulate the industry this coming winter. The agenda for the session lists “The Cryptocurrency and Regulation of Official Digital Currency Bill, 2021.” The bill also addresses the framework for the official central bank digital currency that will be issued by...Read More
Self-proclaimed SHIB and DOGE killer Floki Inu (FLOKI) has secured a major partnership deal with one of India’s top professional football clubs, Kerala Blasters FC, popularly known as The Blasters. Blasters’ Official Sleeve Sponsor In an official announcement made on FLOKI’s Twitter page, the memecoin project said it will become the club’s official sleeve sponsor,...Read More
The Indian government will reportedly implement a regulatory framework for operating with cryptocurrencies by February next year. Instead of a complete ban, this time, the authorities will debate whether to accept bitcoin and the altcoins as an asset class. India’s U-Turn The world’s second most populated nation is one of the fastest-growing markets for cryptocurrencies....Read More
The Indian government continues with its indecisive approach towards the crypto industry. A recent report claimed that the authorities plan to implement new taxation on gains from digital asset operations instead of the recently-discussed ban. Citing sources familiar with the matter, the Economic Times reported that India is contemplating taking a different approach to the...Read More
India’s securities and commodity market regulator, the Securities and Exchange Board of India (SEBI) has revealed intentions to increase the use cases of blockchain technology in monitoring financial instruments in the country. Indian Regulator to Adopt Blockchain Next Year In a press release published on the regulator’s official website, SEBI announced it is currently making...Read More
The Indian governing body will reportedly take measures to eliminate the use of cryptocurrencies as part of the country’s financial system. However, the existence of digital assets issued by the State is not threatened. Cryptocurrencies Fund Illegal Activities According to a recent report by The Economic Times, the government of India plans to crack down...Read More
The cryptocurrency platform Bitbns intends to open a systematic investment plan (SIP) in digital assets for Indian athletes who win medals at the ongoing Tokyo Olympics. The exchange will reportedly grant around $2,700 in crypto for gold medal winners. ‘Faster, Higher, Stronger’ And Earn Crypto The Economic Times reported that Indian athletes at the Olympic...Read More
To support the Indian blockchain development ecosystem, Solana, a high-performance blockchain network, has revealed that it will be rolling out a new hackathon exclusively for Indian developers and entrepreneurs. Solana Unveils Hackathon with Over $80k in Prizes In a tweet on Tuesday, Solana noted that the hackathon, dubbed “Building Out Loud,” will last for 3...Read More
The residents of India, known to be a gold-loving nation, increased their digital assets investments from $200 million last year to $40 billion this year. The exponential growth sounds impressive having in mind the hostile crypto restrictions, which the central bank maintains. Indians Admire Gold but Love Crypto The blockchain analysis company Chainalysis reported that...Read More
India’s Narcotics Control Bureau (NCB) arrested Makarand Pardeep Adivirkar, better known as the ”Crypto King”, on suspicion of purchasing drugs from the Darknet using bitcoin. Apart from Indian peddlers, the criminal also bought narcotics from European ones. LSD for BTC The NCB announced that it arrested a suspect who allegedly exchanged bitcoin for LSD. He...Read More
India’s Enforcement Directorate (ED) has purportedly sent a show-cause notice to the founder of the popular exchange – Nischal Shetty, and the director – Sameer Mhatre. The agency has requested the duo to explain suspicious transactions worth nearly $400 million. According to a Reuters report, India’s financial crime-fighting organization, the ED, has contacted the two...Read More
After years of controversial history with the digital asset industry, India could be changing its mind again and moving from banning cryptocurrencies to classifying them as an asset class. By citing “top sources tracking the industry,” The New Indian Express reported the latest development earlier on June 10th. The paper reads that the government has...Read More
Although the Reserve Bank of India recently issued a new circular clarifying that digital assets are not outlawed in the country, the entity still believes they carry significant risks. As such, the RBI has taken its concerns to the government, asserted the bank’s governor – Shaktikanta Das. The world’s second-most populated nation has always had...Read More
The Reserve Bank of Inda issued a new circular today, clarifying that although banks and other entities need to carry customer due diligence, cryptocurrencies are not outlawed in the country. Citing media reports that banks and regulated entities have “cautioned their customers against dealing in virtual currencies by making a reference” to a circular that...Read More
The National Payments Corporation of India (NPCI) does not intend to block cryptocurrency trading. Instead, it plans to leave the decision to individual banks and thus they can determine their own risk level. NPCI to Pass the Decision to Local Banks The consequences of the COVID-19 pandemic caused colossal damages to the nation and many...Read More
Jubilant Foodworks, the organization that operates the franchise of Domino’s Pizza in India and several other countries, have reportedly experienced a significant data breach. The hackers offer to sell sensitive information on the dark web, and they asked for a payment of 10 bitcoins. A Security Breach at Domino’s India According to a recent report,...Read More
The Binance owned WazirX exchange has been enjoying record volumes recently despite the ongoing regulatory uncertainty from Indian politicians. Its native token, WRX, has skyrocketed to a new all-time high on the back of news that the company will be launching its own non-fungible token platform for Indian markets. According to local media, WazirX has...Read More
While the cryptocurrency landscape in India is still faced with regulatory uncertainty, the government has directed that companies should disclose details of their crypto transactions and holdings. Possible Crypto Regulation for India? According to a document published on March 24, both public and private firms in India care to disclose details of their cryptocurrency activities...Read More
After temporarily breaking the ice on bitcoin regulations, the Indian government is doubling down its efforts to restrain cryptocurrency use. A new bill on the way could place cryptocurrency holders and miners at risk of fines and possible jail time. New Indian Anti-Bitcoin Bill On the Cards A fresh Reuters report claims that India is...Read More
FD7 Ventures, the cryptocurrency-oriented fund that recently vowed to dispose of its BTC holdings for ADA and DOT, has set up a $250 million micro-fund focusing on investments in teams working on the ecosystems of Polkadot and Cardano. FD7 Goes to India for DOT and ADA Based in Dubai, UAE, FD7 is a crypto-oriented investment...Read More
Amid the clamor for nuanced crypto regulations in India, one billionaire investor appears not to be sold on the value proposition for cryptocurrencies and has advocated for a Bitcoin (BTC) ban. Bitcoin Hangover will be ‘Much Worse’ Speaking to CNBC on Tuesday (Feb. 23, 2021), Rakesh Jhunjhunwala, dubbed the “Indian Warren Buffett,” slammed Bitcoin, calling...Read More
Twitter CEO Jack Dorsey and Rapper Jay Z have come together to make a 500 Bitcoin donation to teams in Africa and India. The Twitter Co-Founder updated his status on the platform to announce the collaboration earlier today. JAY-Z/@S_C_ and I are giving 500 BTC to a new endowment named ₿trust to fund #Bitcoin development,...Read More
The Indian cryptocurrency scene is currently waiting on an imminent Crypto Bill, which may define the future of digital assets in the country. The situation is vastly different from 2019 as the current bill also includes the possible development of a Central Bank Digital Currency supported by the Reserve Bank of India (RBI). With a...Read More
The Government of India seems to have resumed its efforts to ban cryptocurrencies after a lull in a political and legal battle. The latest move by politicians came this week when they revealed a bill that could put any activity related to cryptocurrencies in checkmate. If Cryptocurrencies Are Legal, a Law Can Make Them Illegal...Read More
UAE-based LuLu Exchange is in the news after it announced its partnership with Ripple and India’s Federal Bank to facilitate faster cross-border payments from UAE to India. We are proud to announce our partnership with Ripple and Federal Bank to enhance real-time payments from UAE to India that are faster and more affordable than ever...Read More
India is looking towards adopting blockchain technology for remote voting. This comes despite the country’s stance against cryptocurrency trading. Blockchain Technology in India’s Voting Process According to The Wire, on Monday (Jan. 25, 2020), Sunil Arora, India’s Chief Election Commissioner (CEC), announced the plans to use blockchain technology in a mock trial for remote voting....Read More
While Bitcoin’s price has more than doubled from its previous all-time high of $19,666 for the first time in almost 3 years, not a lot seems to have changed for India. For a country with 1.35 billion in population and a GDP of $2.7 trillion, getting on board with cryptocurrency aka digital/virtual currency seems to...Read More
Indian authorities have arrested a 60-year-old greetings maker for duping about 45 people in investing over $350,000 in a fraudulent cryptocurrency scheme. The accused ran the operation through a designated application and promised double-digit monthly returns. Indian Crypto Fraudster Arrested As reported by the Times of India, the local police apprehended Umesh Verma at the...Read More
The 100 BTC kidnapping case in the Indian state of Karnataka continues to develop as the local police have arrested another suspect on the case. Reports say he was the one who abducted the kid in front of his home after being recruited by the mastermind of the entire operation. Progress On A 100 BTC...Read More
Although India still displays uncertainty in its approach towards cryptocurrencies, the local government is reportedly considering implementing an 18% goods and services tax on BTC transactions. With such transactions exceeding $5 billion annually, the newly proposed tax could generate additional revenue of about $1 billion. 18% Tax On BTC Transactions In India? According to the...Read More
