In this regulatory roundup, we cover the U.S. SEC approving a bitcoin futures fund, the new IRS tax form targeting crypto owners, and several more steps taken by the U.S. government toward crypto regulation. We also cover India’s central bank digital currency plan, South Korea’s crypto taxation plan, and the European Commission’s announcement regarding stablecoins....Read More
Regardless of crypto market price action, some countries have had a better 2019 than others. India has been on the back foot for most of it as the central bank and regulators procrastinated with the new technology and stifled further innovation. Indian Crypto Industry Stunted Increasing hostility from central banks is to be expected. Decentralized...Read More
Indian economy is going through a rough phase and the unemployment rate is at 45-year high while its yearly growth rate is taking a back seat. From being one of the fastest-growing economies in the world to the present situation where economists are concerned if immediate measures are not put in place, India might see...Read More
A new Indian government report has put cryptocurrency in a positive light, viewing the mechanisms surrounding it, including initial coin offerings, as “revolutionizing the global fintech landscape.” The report also discusses the regulation of coins and tokens. Also read: Indian Exchanges Innovate as Calls for Positive Crypto Regulation Escalate Steering Committee’s Report The Indian Ministry...Read More
Indian crypto exchanges are innovating, launching new products and improving services for their users, despite the country’s regulatory uncertainty and unresolved banking restrictions. Meanwhile, the Indian crypto community continues its efforts to convince the government that the draft bill to ban cryptocurrencies is flawed, calling for positive regulation instead. Also read: Crypto Can Boost Indian...Read More
Stealing $63 million Crypto was not enough for the Gang’s Leader. Image from Shutterstock. An Indian Bitcoin fraudster defrauding its victims of nearly $63 million was brutally tortured and murdered by his accomplices after they had found out that he had duped them too. Stealing $63 million Crypto was not enough for the Gang’s Leader...Read More
The Indian economy is experiencing severe economic slowdown not seen in many years, and cryptocurrency can potentially help. However, the government is considering a draft bill to ban cryptocurrencies, which could have undesirable consequences on the economy. Meanwhile, the Indian crypto community has already been enduring a banking ban by the central bank. Also read:...Read More
Last week cryptocurrency prices bounced around after a majority of coins dropped in value on August 21. Today on August 26, digital currency markets have gained around 1.52%, gathering $4 billion since the initial slump. Despite the volatility, cryptocurrencies have consolidated and a few speculators believe a breakout is on the cards that could send...Read More
Many signs indicate that the Indian economy is under grave stress, affecting nearly all sectors. “India’s economy is in a deep mess,” due to initiatives such as demonetization and GST, some lawmakers say, as they urge the government to handle the situation “which is intensifying on a daily basis.” Also read: Indian Supreme Court Orders...Read More
The supposed coordination of governments and tech companies to create a one-world, cashless society is often viewed as little more than fodder for silly Youtube conspiracy videos. After all, cash is still king in daily life, even in extremely high-tech, innovative societies like Japan. Upon closer examination, though, current realities like Australia’s proposed cash transaction...Read More
Cryptocurrency markets are bleak leading into Wednesday, August 21. Bitcoin has reversed all of its hard-fought gains since the start of the week, falling back below the $10,000 mark. Cryptocurrency Market Situation. Source: Coin360 The overall market is also seeing strong losses, most notably ETH, which has fallen back to its weekend price. The heaviest...Read More
After hearing the arguments against the banking restriction by the Reserve Bank of India (RBI) in detail, the Indian supreme court directed the central bank to reply to the representations filed by crypto exchanges. Since the RBI has not adequately answered them, the court set a new date to resume hearing the case. Also read:...Read More
India’s biggest lender is looking to ‘eliminate’ debit cards altogether in a possible effort to cut down on capital flight. | Source: Shutterstock By CCN Markets: India’s largest bank, the State Bank of India (SBI), has announced an initiative yesterday in which the state-owned financial institution seeks to eliminate debit cards to promote digital transactions....Read More
The Indian supreme court heard the case against the crypto banking restriction by the Reserve Bank of India (RBI) in detail Tuesday. After many arguments challenging the RBI’s power over crypto were presented, the counsel for the central bank began making the case against cryptocurrency. Also read: RBI’s Power Over Crypto Challenged at Length in...Read More
The second-largest state in India, Maharashtra, is ramping up its plans to apply blockchain tech across various spheres of administration. The government of the Indian state of Maharashtra is preparing a regulatory sandbox for testing blockchain solutions across various applications. According to a report by Indian English-language news daily DNA India on Aug. 19, the...Read More
