Blockchain & crypto news from India
The Loper Bright vs. Raimondo decision by the United States Supreme Court has the potential to have a far-reaching impact on the cryptocurrency industry. At its core, this decision could lead to a shift in the power dynamics between the judicial and executive branches of the US government. In a 6–3 decision, US courts are…
The government has come up with a new crypto bill to be introduced during the winter session in the parliament, namely the Cryptocurrency and Regulation of Official Digital Currency Bill. According to media speculation, the new bill will “forbid the use of all private cryptocurrency” but will provide some leverage on certain cryptocurrencies to promote…
The Centre is expected to move a revamped bill on crypto at the beginning of the Winter Session of the Parliament. According to sources, officials of the ministry of finance are working towards altering the recommended crypto legislation. A previous draft of the bill suggested a ban on the utilization of digital currency in India….
Indian crypto investors now prefer peer-to-peer transfers, Telegram or WhatsApp groups and spot trading to trade currencies because of volatile banking services being offered by the banks to exchanges. Currently, SBI blocked receiving of funds by the crypto exchange on its UPI platform. Though most top-notch exchanges witnessed a rise in buying activity in the…
The postponement in the government establishing the regulation on crypto has given rise to intense lobbying, with agencies anxious over the risks emerging from an unregulated section with utmost price unpredictability, posing a threat to investors, the majority of who don’t understand the instrument. In addition to this, there are issues over the instrument being…
CoinDCX is now India’s first crypto unicorn after the exchange raised $90 million from investors led by Facebook Inc. co-founder Eduardo Saverin’s B Capital Group. On Tuesday, in an interview, co-founder and CEO Sumit Gupta said that the latest funding round values at $1.1 billion. Other investors include existing partners Polychain Capital, Coinbase Ventures, Jump…
Indian crypto space has been confronting a revolution for the past couple of years. In spite of the uncertainty in the regulations and extreme volatility, several Indians prefer investing in crypto rather than gold. Around 15 million people in India have invested in crypto. In India, households have more than 25,000 tonnes of gold. Interestingly,…
After EI Salvador’s remarkable stand to adopt Bitcoin as a legal tender, things are appearing brighter back home in India for crypto-lovers. Top sources monitoring the industry informed that the government has a change of mind from its previous hostile attitude towards digital currencies. It will most probably consider Bitcoin as an asset class in…
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…
Cryptocurrency exchanges in India are reportedly considering approaching Supreme Court to sort out problems they’ve had with central banks currently. Most of the crypto exchanges in the nation have had to stop taking rupee deposits in India, as banks withdrew their services after an informal notice from India’s central bank – the Reserve Bank of…