Blockchain & crypto news from India
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…
According to mails sent by prime Indian lenders State Bank of India and HDFC Bank, they have warned their clients against dealing in crypto such as bitcoin. HDFC Bank, in its letter to its customers, told that cryptocurrency dealings aren’t permitted as per Reserve Bank of India’s regulation. The banks have sent mails to specific…
Samsung has announced that blockchain users will be able to trade and manage digital assets from 3rd party wallets on Samsung Galaxy smartphones this month. Samsung is not the first company to come out with a blockchain-enabled phone. In 2019, HTC had introduced the first “blockchain phone”, known as Exodus 1. But, the HTC phone…
Cryptocurrency traders and exchangers are dealing with an ongoing problem with many banks not interested in allowing transactions that deal with crypto exchanges. According to sources, the problem started in February end. In recent weeks some banks have directed payment gateways to not permit crypto-related transactions. As a result, some cryptocurrency exchanges have been encountering…
A longtime cryptocurrency advocate and billionaire entrepreneur Mark Cuban said that the COVID pandemic proved just how immaterial traditional financial institutions are. Last week, Cuban said that the people in need of money got it the slowest. Mentioning barriers to receiving and cashing stimulus checks during the pandemic, transaction costs, the number of days banks…
On Sunday, Geometric Energy Corporation announced the dogecoin-funded mission. The announcement came with a statement not revealing the financial value of the mission. Space X will be launching the “DOGE-1 Mission to Moon” in the first three months of the coming year. This will be done with Elon Musk’s rocket company accepting the meme-inspired crypto…
A court in the Northern District of California introduced an order that authorizes the IRS to serve a John Doe summons on Payward Ventures Inc. and its subsidiaries d/b/a Kraken (Kraken) looking for info about U.S. taxpayers who did transactions in crypto of at least the equivalent of $20,000 during the years 2016-2020. The IRS…
Dogecoin two folds from mid-April value. The cryptocurrency has grown by 45% in the previous few days. The coin’s value decreased to almost Rs 16 by April end. But it saw a whopping surge of 45% on Monday night when its value grew up to Rs 51. In terms of market capitalization, DOGE has surpassed…
A tweet from Sandeep Nailwal on Saturday started all this. “Can’t take this sitting down anymore, I am going to run a Covid relief campaign… Need help from the global crypto community. I will take full responsibility for transparency, funds’ usage, and regulatory compliance”. COO and co-founder of Polygon Sandeep Nailwal has asked to donate…
After Tesla’s chief financial officer renewed commitment to the cryptocurrency, Bitcoin traded over $54,000. It gained as much as 1.9%. On Monday Tesla said that from investment the company generated $101 million in income. This aided them to beat estimates by analysts for profit in the first four months of the year. Bitcoin gained after…