Blockchain & crypto news from India
On Friday, Reserve Bank of India Governor Shaktikanta Das focused on an internationally coordinated approach to regulate technology-based operations like blockchain platforms and decentralized finance or Defi.
Prominent cryptocurrency exchanges WazirX and CoinSwitch Kuber have blocked rupee deposits for the buying of crypto using a widely-used state-fostered transfer system, provoking users to voice concern on social media. India has spent years on a law to regulate or ban cryptos, with its central bank supporting a ban over their threat to financial stability,…
On Wednesday night, cryptos including Ethereum, Bitcoin, Solana, Cardano and Terra slipped steeply after the US Federal Reserve released minutes of its December meeting in which the Central Bank hinted it could begin increasing interest rates to handle challenging high inflation. On November 11, 2021, Bitcoin touched an all-time high of $68,749. It has outperformed…
IBM and HSBC, on Thursday, declared the successful test of an up-to-date token and digital wallet settlement between 2 CBDCs (central bank digital currencies) in a cloud environment. The experiment included transactions between eBonds, CBDCs and forex. Hyperledger Fabric and enterprise technology provider of IBM, R3’s Corda acted as the base of the distributed ledger…
According to co-founder, Neeraj Khandelwal, India’s first crypto unicorn, CoinDCX, wishes to work towards an initial public offering as soon as government regulations permit it. Khandelwal said that akin to Coinbase Global Inc.’s U.S. listing earlier this year, the share sale would be a key vote of confidence for the country’s digital asset industry. He…
India’s largest lender, State Bank of India has banned crypto exchanges from receiving funds through its UPI platform and has asked payment processors to disable SBI UPI on their platform also. SBI’s stance came after a slew of banks imposed alike bans on cryptocurrency exchanges over the previous few years. In May, HDFC Bank has…
On Monday, PayPal Holdings Inc. said that it will enable customers in the UK (United Kingdom) to sell, purchase and hold bitcoin and other crypto starting this week. The move which represents the first international expansion of PayPal’s cryptos services outside of the US could further stimulate mainstream adoption of the new asset class. With…
India and China aren’t the only Asian nations struggling with the fate of crypto. Small players like the Vietnam and Philippines are stepping into the arena as well as the fame of virtual currency continues to increase. As per the Philippines Stock Exchange (PSE), crypto is an asset class that they can’t afford to ignore…
A decision from the Reserve Bank of India (RBI) to remove a 2018 rule that prohibits banks from encouraging crypto dealings comes as a welcome relief for a community encountering opposition from traditional lenders required to help settle these trades. Late on Monday, the regulator informed banks not to quote a 2018 central bank circular…
Last week Turkey’s Central Bank imposed a ban on the use of crypto assets in payment. This eventually affected the prices of cryptocurrency assets and Bitcoin. On Friday, Sahap Kavcioglu, Governor of Central Bank said that the Finance Ministry of Turkey is working on creating broader regulations in terms of cryptocurrencies. He further added that…