In a Bitcoin-related kidnapping event in Karnataka, India, abductors asked for a 100 BTC ransom for the son of a local businessman and crypto investor. The police managed to capture six suspects on the case, which were all related to the victim’s family. 100 BTC for The Son of A Crypto Investor An eight-year-old boy...Read More
CoinDCX, India’s largest cryptocurrency exchange, has raised Rs 100 crores ($13.9 million) from investors to complete the exchange’s third round of seed funding for the year 2020. The Series B round was led by Block.one and included investors such as DG, Jump Capital, Uncorrelated Ventures, Coinbase Ventures, Polychain Capital, Mehta Ventures, and Alex Pack. Back...Read More
Barely ten months after the Indian Supreme Court lifted the RBI’s ban on cryptocurrency transactions, fresh reports from yesterday revealed that the country’s tax authority is now keeping a close watch on crypto traders as Bitcoin’s price continues its bullish trend. Taxing Crypto Gains According to local media, the Indian Tax Department is already in...Read More
Quartz Devkit, a blockchain developer toolkit backed by leading Indian IT service provider, Tata Consultancy Services, has just announced its support for the Ethereum Blockchain. The development platform will now enable decentralized applications and the deployment of smart contracts on three blockchain platforms – Hyperledger Fabric, R3/Corda, and Ethereum. Quartz DevKit claims to allow programmers...Read More
After the Supreme Court’s ruling to quash the ban on cryptocurrencies in India, activity in the crypto space has grown significantly, however, some rumors have still emerged about the uncertainty regarding the legal status for Bitcoin and cryptocurrencies in the country. However, as Sathvik Vishwanath, CEO of Unocoin stated in a recent interview spoke about...Read More
For many, India is a country with a lot of untapped potential, a country that can truly launch the crypto-space to the stratosphere. However, many hurdles stand in the way of these dreams becoming a reality. These hurdles were recently highlighted by a survey reporting the sentiments of investors in India, a survey done by...Read More
India has noted an uptick in crypto users over the past year. This surge in the crypto users can mainly be attributed to the Supre Court’s decision to quash the Central Bank’s circular that called for a banking ban for crypto transactions in 2018. This judgment has temporarily also impacted user-perspective regarding crypto in the...Read More
The increasing value of Bitcoin [BTC] has given a nudge to many traders snoozing during the low volatility period. The coin’s current trading value of over $15K has enabled significant profits for BTC investors. As the cryptocurrency market retraced the 2017/18 journey, the P2P volumes appeared 66% lower than the peak noted during the previous...Read More
Decentralized oracle platform Razor Network has raised a total of $3.7 million in a seed and private sales round which was led by investors in the blockchain space, such as NGC Ventures, Alameda Research, and Spark Digital Capital among others. The firm’s private sale round saw investors including Mariano Conti, former head of oracles at...Read More
Bitcoin’s price was rallying before CFTC charges hit BitMEX, and immediately after, retail traders started scaling back positions on BitMEX. Open interest in XBTUSD perpetual contracts on BitMEX dropped to 55000 BTC. BTC Perpetual Swap Funding Rate || Source: Skew The funding rate dropped below -0.05% in the first week of October in response to...Read More
Unocoin is one of the earliest exchanges to enter the Indian cryptocurrency arena in 2013. And now the crypto trading platform has received funding from billionaire and bitcoin bull Tim Draper. The Series A round which raised $5 million was led by Draper Associates. 2020 Ventures and crypto-focused VC firm XBTO Ventures also participated in...Read More
Indian police are investigating a New Delhi-based crypto firm, ‘Pluto exchange,’ which has been accused of swindling Rs 2 crore (approximately $270K) from 43 crypto investors, according to local reports. The Economic Offences Wing of the Delhi Police has suspected one Bharat Verma to be the Director of the crypto company who reportedly lured in...Read More
Banned or not, cryptocurrencies made its way to India, and traders have not shied away from the opportunity to explore their investment options. Among top cryptocurrencies, Bitcoin has been the most-opted for crypto given its history and dominance above other alts. As the BTC market has been providing great opportunities for traders to enter the...Read More
Twitter continues to experience technical issues trying to protect high-profile accounts as the social media giant has confirmed another hack. This time, it involved India’s Prime Minister Narendra Modi. Upon taking over the account, the perpetrators had requested donations in Bitcoin and other cryptocurrencies. Twitter Hacks – The Indian Edition Less than two months ago,...Read More
The period of altseason has been predicted by many and there has been growing interest visible for crypto. Binance recently added Indian Rupees [INR] on its peer-to-peer trading platform to attract Indian traders but the payment method still posed a problem. On 21 August, Binance added 58 new payment methods, and India’s e-commerce payment system...Read More
The popular cryptocurrency exchange OKEx will launch a peer-to-peer trading platform in India today. Local users will be able to purchase digital assets with Indian rupees (INR) with zero transaction fees. OKEx Opens A P2P Platform In India According to a study compiled by OKEx and Coinpaprika earlier this year, the Supreme Court decision to...Read More
Bitcoin peer-to-peer (P2P) trading volume in several countries, including India, Mexico, and Argentina, has hit all-time highs this week, according to data from LocalBitcoins and Paxful. Regular People in Developing Countries Are Actively Trading Cryptocurrency During the last two months or so, Bitcoin has been more stable than ever, fluctuating between $9,000 and $10,000. Binance...Read More
Yesterday, in an online discussion with India’s leading cryptocurrency industry players, the country’s former Finance Secretary, Mr. Subhash Chandra, said that ‘crypto assets’ should be regulated, but with ‘rules.’ Garg previously headed the Inter-Ministerial Committee that drafted a draconian bill banning cryptocurrencies in India. Maybe We Can Try to Regulate it (Crypto) as a Commodity:...Read More
The Indian cryptocurrency industry wanted to begin a conversation with regulatory bodies to share their understanding of the space and provide counsel in framing the guidelines for it. In a conversation today Subhash Chandra Garg, the Chairman of the Indian Inter-Ministerial Committee [IMC] noted that crypto can be regulated as a commodity and not as...Read More
India saw a rapid increase in cryptocurrency trading amid the lockdown period, and after the Supreme Court overturned the Reserve Bank of India’s decision to ban crypto businesses, the Hindu reports. India’s Crypto Trading Volume May Be Up to $30M Per Day The strict social distancing rules, which were adopted at the end of March,...Read More
India has an active crypto community with numerous crypto businesses striving to develop the space and work with regulators to form adequate guidelines. After the Supreme Court quashed the Central bank’s banking ban, the crypto businesses got a new lease of life and the country also saw interest from many others to start a new...Read More
A few hours back, Indian IT heavyweight, Tata Consultancy Services, announced the launch of Quartz™ Smart Solution for Crypto Services. The offering will help banks and other financial institutions provide ‘secure and seamless’ crypto trading facilities to their clientele. IT Giant TCS is Spearheading Crypto Adoption As per the official press release, Tata Consultancy Services’...Read More
The onset of the COVID-19 pandemic turned many financial investors’ interest in the cryptocurrency market, with the global economy appearing to be in peril after world markets fell. Off late, even India has seen its citizens’ interest towards crypto grow, with the Supreme Court of India allowing the use of banks for crypto-businesses, right before...Read More
According to recent reports, the Ministry of Finance in India has proposed to ban digital assets. The move comes only three months after the nation’s Supreme Court revoked a two-year-old ban. India Changes Its Mind On Crypto (Again)? A local report from today informed that India’s Ministry of Finance had moved a note for inter-ministerial...Read More
India has proven to be a rather complex country when it comes to cryptocurrencies. Overall trading volume across exchanges is surging during the coronavirus, potentially hinting at things yet to come. Similar to other countries, India is under some form of lockdown due to the coronavirus. Crypto Demand Picks up in India As such, it...Read More
Ever since the supreme court quashed the banking restriction imposed by the central bank, interest in cryptocurrency has been rising in India, including on peer-to-peer (P2P) marketplaces. The local crypto community is growing despite the nationwide lockdown and rising covid-19 threat. Also read: 2x Bitcoin — Wanna Double Your BTC to the Moon? Forget About...Read More
The coronavirus outbreak led to new developments and restrictions in the past 24 hours. The 2020 Tokyo Olympic Games could be postponed, while India inserts a lockdown on 75 districts in its borders. The financial markets reacted adversely today, as U.S. futures and Asian stocks nosedived by up to 10% in some cases. Bitcoin is...Read More
Good News for Indian Crypto Community. 2020 seems to bring surprises and the highest possibilities in Crypto and blockchain implementations across the country. The world’s largest cryptocurrency exchange Binance and India’s most trusted cryptocurrency exchange WazirX, announced a joint initiative “Blockchain for India” to support the development and growth of blockchain startups in India. #Binance...Read More
Last week’s decision from the Supreme Court of India to lift a two-year-old ban on cryptocurrency usage already has a positive impact on the local business scene. Kraken, a leading veteran U.S.-based digital asset exchange, announced plans to invest resources in the Indian market. Kraken Recommits To The Indian Market The veteran San Francisco-based exchange,...Read More
Last week, Bitcoin bulls celebrated when it was revealed that India’s Supreme Court on Wednesday reversed anti-crypto restrictions placed on the industry by the nation’s central bank, the Reserve Bank of India. This move allowed banks to once again facilitate transactions with and offer services to industry entities once again, “removing a major hurdle for...Read More
