Blockchain & crypto news from India
India will get its very own official digital currency soon. According to a top government source, it will mirror any of the presently available private firm-operated electronic wallets, but with a twist that it will be a sovereign-supported facility. In her budget speech the previous week, Finance Minister Nirmala Sitharaman discussed launching a central bank-backed…
On Friday, Finance Minister Nirmala Sitharaman said that the government has sovereign right to tax profit made from crypto transactions and the decision on prohibiting or not prohibiting will be taken depending on the feedback from consultations. Responding to the general discussion on Union Budget, the finance minister said that she is not going to…
Nirmala Sitharaman Finance Minister has said that government will bring clarity on the formalization of cryptocurrency soon. Partaking in a post-budget interaction organized on Monday by industry body PHD Chamber of Commerce and Industry, while responding to a query on the regulation of crypto, Ms. Sitharaman said that the Centre has a consultation process for…
On Tuesday morning, Finance Minister Nirmala Sitharaman confirmed that RBI (Reserve Bank of India) will launch a digital rupee soon. The digital currency by RBI will be based on blockchain technology the tech behind Bitcoin and other famous cryptocurrencies. FM said that the digital rupee will be issued by 2022-23 without offering any clarity on…
The Government of India was criticized severely to introduce new laws for crypto during the Parliament’s Winter Session which started on November 29. The session has concluded and the crypto bill didn’t make it to the table. This is the second time that ‘The Crypto and Regulation of Official Digital Currency Bill, 2021’ was listed…
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…
The much-anticipated legislation to regulate virtual currency in India, the crypto bill is anticipated to be taken up by the Union Cabinet soon. During a conversation with the reporters, the finance minister Nirmala Sitharaman said that the cabinet note is ready on the crypto bill. She added that she is awaiting Cabinet to clear that….
On August 2, Pankaj Chaudhary, Minister of State for Finance said that the government would decide on the proposals on the Inter-Ministerial Committee (IMC) on the legislative proposal and cryptos, if any, would be tabled in Parliament after the due process. In its reports, a high-level IMC had recommended that all private cryptos, except any…
India is getting closer to regulating crypto within its borders. Nirmala Sitharaman, the country’s Finance Minister said that India’s crypto bill is ready. She further added that the government has taken details from industry stakeholders to get the document ready. She continued that they have done a lot of work on it. They have taken…
On Monday, financial authorities in Mexico told that crypto assets aren’t legal tender and aren’t considered currencies under current laws. The authorities further cautioned financial institutions that operate with them are subject to sanctions. The joint statement by banking regulators, the Bank of Mexico and the the Bank of Mexico after Ricardo Salinas Pliego, a…