Blockchain & crypto news from India
In bad news for blockchain and bitcoin lovers, the New York State on Friday passed a bill to cease new permits for specific fossil fuel power plants to be utilized in Bitcoin mining. The move sets up a two-year ban on new permits for crypto mining operations that use proof-of-work (PoW) authentication methods to validate…
According to sources, suggested legislation that would prohibit the use of cryptos as a mode of payment in India also anticipates making those who violate the law subject to arrest without a warrant and being held without bail. The government of PM Narendra Modi has earlier indicated that it proposes to prohibit most cryptos –…
On Monday, Nirmala Sitharaman, Finance Minister said that the central government has no intention to accept Bitcoin as legal tender in India. Responding to whether the government is aware that Bitcoin transaction is quietly flourishing in the country in recent years, FM said that the Centre doesn’t gather any info on Bitcoin transactions in the…
Crypto ads have returned on the advertising platform of Google following the largest network revised its policies in June, but it’s not exactly as open as previously. In March this year, the company had banned all advertising related to initial coin offerings (ICOs) and crypto firms. The policy imposed an overarching ban on almost every…
On Monday, Bitcoin dived more than 10% after China widened a clampdown on its huge crypto mining industry with a ban on mines in a main southwestern province. Mines in China power nearly 80% of the global trade in crypto in spite of a trading ban since 2017. But in recent months many provinces have…
China has forbidden payment and financial firms from offering services related to crypto transactions. Further, the country has warned investors against speculative crypto trading. In a joint statement, three industry bodies informed on Tuesday that under the ban, institutions like online payment channels and banks must not offer clients any service involving digital currency. This…
National Payments Corporation of India which runs UPI in India has denied banning crypto transactions. The domestic payments authority has instead asked banks to take a stand considering their risk assessment. The decision should be taken based on the advice of the banks’ compliance and legal departments. The NPCI’s suggestion is important at a time…
Indian Finance Minister Nirmala Sitharaman recently disclosed some clues about the new Cryptocurrency Bill that will be soon introduced in the parliament. Revealing no explicit intention to ban cryptocurrencies, she informed that the Indian Government will follow a ‘very calibrated’ approach to crypto trading. While sharing information about the bill, the finance minister for the…