After a high conflicting PMC Bank lockout, Reserve Bank of India has now taken Yes Bank’s reins in its hands. On Thursday, 5th March 2020 RBI declared that it is superseding and taking over the affairs of Yes Bank until April 3rd. Moreover, the central bank has appointed a new Administrator Prashant Kumar to manage...Read More
Today’s date will be marked in the Indian crypto sphere. On March 4th, 2020, the Supreme Court lifted the curbs on exchanges in cryptocurrency imposed by the Reserve Bank of India. The judgment came after a series of hearings challenging RBI’s ban on financial firms or individuals in India from trading in cryptocurrencies. However, the...Read More
Last year was pretty dismal for the bitcoin and crypto industry in India. Regulatory procrastination and a negative outlook from politicians have stifled the ecosystem and innovation, will 2020 be any better? BITCOIN BATTLING IN INDIA The Reserve Bank of India (RBI) has been relentless with its disapproval towards bitcoin and the crypto industry over...Read More
India’s former Finance Secretary Subhash Chandra Garg has shared his views on the future of cryptocurrency, both in India and worldwide. He headed the committee responsible for drafting the infamous bill to ban cryptocurrencies, which the crypto community calls flawed in many regards. Also read: Regulatory Roundup – China Blockchain ETF, New French Crypto Rules,...Read More
Banking services platform Cashaa has seen significant growth in crypto trading volume in India since it began offering INR deposits and withdrawals. The platform has cut its fees by more than 50% and is getting ready to add five more cryptocurrencies for users in India, Cashaa has shared with news.Bitcoin.com. Also read: Regulatory Roundup –...Read More
In this regulatory roundup, we cover a positive crypto story in India, China’s year-end rankings, and the European Central Bank entering the stablecoin race. We also cover the New York regulator’s proposed Bitlicense revision — the first in five years — and several other notable regulatory developments in the crypto space. Also read: Regulatory Roundup...Read More
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 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
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
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
The supreme court hearing on Crypto vs RBI resumed on August 21 with RBI’s counsel, Shyam Divan, reading the IMC report pointing out the disadvantages of Crypto. During the course of arguments, the judge interrupts and asks how you are concerned with consumer protection, it is not your concern. It is Govt. concern and not...Read More
The courtroom battle between India’s bitcoin exchanges and the central bank appears to go in favor of the former.In a hearing today, the Supreme Court judge asked the Reserve Bank of India (RBI) that why it chose to ban bitcoin trading when it could regulate it. The judge compared the cryptocurrency trading market to that...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
Crypto vs RBI case resumed hearing today, 20/8/2019 in Supreme Court, Court No. 5. Ashim Sood, counsel for the Internet and Mobile Association of India (IAMAI), questioned RBI’ ban on Cryptocurrency stating FATF guidelines suppress the illicit side of Crypto assets and earlier docs of RBI shows no study took place. Mr. Nakul Dewan, Ld....Read More
