Ripple threatens Indian banks, says EY report – Should you buy XRP?
The rise of Ripple in the global remittance market is putting excessive competitive pressure on the Indian banks. A report by consultancy firm Ernst & Young states that blockchain-based Ripple payments, particularly in the remittance and cross-border sector, can increase the competition for Indian banks. The report has been prepared for the Competition Commission of […]
WRX value increases by 250% to an all-time high
TL:DR Breakdown: The WRX value hype can be traced to the update that WarizX is set to launch an NFT platform. Data from CoinGecko indicates that WRX value has reached $5.90, which is a new all-time high. Following the news of an NFT (non-fungible token) platform launch, WRX value has experienced a high increase. WRX, which […]
Binance Indian exchange, WazirX launches an NFT marketplace
TL;DR Breakdown Indian exchange, WazirX has launched an NFT marketplace. The platform is designed to enable Indian artists and creators to easily participate in the growing NFT market. The Binance-owned Indian cryptocurrency exchange, WazirX, has joined the list of companies looking to extend the growth of the non-fungible token (NFT) market. A report on Monday […]
India’s Unocoin now supports human-readable crypto address
TL;DR Breakdown India’s first crypto exchange, Unocoin, has announced support for blockchain domains with Unstoppable Domain. This will help Indians to send and receive cryptocurrencies easily while also reducing the cost of remittance. Cryptocurrency exchanges in India are readily working to make the crypto experience in the country better, despite the regulatory uncertainties. In a […]
RBI alerts Indian government on major concerns about cryptocurrency
TL;DR Breakdown RBI conveys major concerns about cryptocurrency to the Indian government. The bank is readily looking to launch a central bank digital currency while they prohibit private cryptocurrencies. The Indian government is yet to conclude on the fate of cryptocurrencies in the country. In recent days, several authorities in the country issued warnings concerning […]
Indian CBDC can co-exist with private cryptocurrencies, says IAMAI
TL;DR Breakdown: IAMAI says an Indian CBDC shouldn’t result in the ban of private cryptocurrencies. They can co-exist as they are meant to serve different purposes. Recent reports confirmed that the government of India was looking to launch its central bank digital currency (CBDC), which was seen as a welcome development by many crypto enthusiasts […]
Twitter CEO, Jay-Z commit 500 BTC to fund Bitcoin developers in Africa and India
TL;DR Breakdown: Jay-Z and Twitter CEO are launching a new initiative to fund Bitcoin developers in India and Africa. Binance CEO will support the project as soon as it gets started. The CEO of Twitter, Jack Dorsey, has shown strong support for the leading cryptocurrency, Bitcoin (BTC), as well as its development over the years. […]
Crypto ban in India: Hodlers to get 6 months transition period
Cryptocrypto
Indian government planning to make new bill to regulate crypto
TL;DR Breakdown: The Indian government is planning to introduce a bill to regulate cryptocurrencies. This comes some days after they made a bill to ban private cryptocurrencies in the country. Since the Supreme Court in India quashed the blanket ban on cryptocurrencies by the central bank, the industry has been faced with uncertainties in regulation. […]
Indian exchange, BuyUcoin hacked: 6GB data exposed
TL;DR Breakdown: BuyUcoin has been reportedly breached, with over 300,000 users’ information exposed. ShinyHunters is suspected to be responsible for the attack. BuyUcoin, a popular cryptocurrency exchange in India, has been reportedly hacked. The hackers have already exposed several contact information belonging to the customers on the dark web. The incident today is coming a […]
Indian crypto exchanges record massive growth after Bitcoin’s ATH
TL;DR Breakdown: Indian crypto exchanges saw massive growth in users after Bitcoin’s ATH. The exchange said Bitcoin’s ATH was mostly influenced by institutional buys. Digital currencies are gradually going mainstream in India since the country’s Supreme Court revoked the blanket ban imposed on cryptos by the Reserve Bank of India (RBI). The recent parabolic rise […]
Indian police seize $1 million Bitcoin from 25-year-old hacker
TL;DR Breakdown: The police in Karnataka, India have seized over $1 million worth of Bitcoin from a hacker. The culprit admitted to hacking crypto exchanges and online gaming platforms for money. In Karnataka, a state in India, the law enforcement agency has reportedly seized more than $1 million in Bitcoin (BTC) from a hacker who […]
Indian farmers should innovate with Bitcoin to combat effects of Gov reforms
TL:DR Breakdown Farmers protest Government changes. The officials and farmers reach no deal. Bitcoin could be the best solution for farmers. Indian farmers should innovate with Bitcoin to combat the effects of Gov reforms Thousands of farmers are hitting the streets to fight reforms they believe will negatively affect their welfare. The Indian Prime Minister […]
CoinDCX prepares Ethereum 2.0 staking facility for small Indian investors
Indian exchange, CoinDCX, is preparing to enable Ethereum 2.0 staking for small investors. So far, 52,961 ETH has been staked on the Ethereum network since the deposit contract launch. On November 4, Ethereum core developers announced the deployment of the long-awaited Ethereum 2.0 (Serenity) deposit contract, which is expected to lead up to the launching […]
Indian banks finally embrace crypto
Indian bank United Multistate Credit Co. Operative Society intends to incorporate cryptocurrencies. United is working with Cashaa, the crypto banking service provider, to offer digital and walk-in services. The alliance named UNICAS will authorize United’s customers to merge their cryptocurrency wallets with their accounts. Indian bank United Multistate Credit Co. Operative Society aims to include […]
Tim Draper invests in India’s oldest crypto exchange
Unocoin, India’s oldest cryptocurrency exchange platform, has had a massive boost in its drive to raise $5 million in Serie A funding as Tim Draper, serial bitcoin and technology investor, has invested an undisclosed amount on the platform. According to the statement released by Unocoin, the company, if it can raise the funding, would be […]
Indian exchange BuyUCoin develops a framework to aid crypto regulation
Following the unstable regulatory stance of the Indian government concerning cryptocurrencies, BuyUCoin, a digital currency exchange operating in the country, has moved to create a supposed regulatory framework that can facilitate the process of regulating cryptocurrencies in the country. The framework is expected to enable a conducive environment for cryptos while still recommending adequate regulatory […]
Failed Bitcoin deal lands two Indians in police custody
Two Indian nationals, Ramesh Reddy and his friend Prabakaran are now in police custody. The duo was arrested for overreacting, to the extent of threatening and extortion, because of a failed Bitcoin deal. A local news outlet, New Indian Express, reported the incident on Thursday. Fake Bitcoin deals As the local police narrated in the […]
Indian Pluto exchange heads off with $270K in alleged exit scam
Digital currency exchange in India dubbed ‘Pluto’ has allegedly pulled an exit scam on its investors. Pluto exchange had promised the customers of high returns, which perhaps attracted them to deposit their money in the platform. At the moment, the Indian police have begun investigating the matter. Fake investment schemes have been acting as bugs […]
Indian crypto ban alleged to be clickbait
Indian crypto ban attempt from 2019 is still fresh in minds of Indian crypto users India’s SC overturned RBI’s previous partial ban Recent reports of the ban have hallmarks of clickbait Indian crypto ban alleged to be clickbait – that is the speculation after so multiple reports from media around the world. This subject has […]
Crypto payments now preferred by drug dealers, says Indian NCB
Cryptocurrency discovered to be the medium for hard drug purchases into India Crypto exchange regulations suggested in India Cryptocurrency purchase of hard drugs saw Indian youth recently arrested Law enforcement agencies in India have discovered that most drug dealers have shifted to crypto payments as a method for buying hard drugs into the country, from […]
New bill to ban crypto in India threatens crypto unicorns
The Indian government will discuss a bill to ban crypto in India during the ongoing parliament session. As the lawmakers gather together for the monsoon session of the parliament, the country faces various issues such as GDP downturn, a surge in Coronavirus cases, and border disputes with China. Amid such an important session, crypto does […]
Tezos staking begins on Binance-owned WazirX exchange
A recent update from the Binance-owned Indian cryptocurrency exchange, WazirX, informed that Tezos staking has been enabled for its cryptocurrency traders and investors, who are mostly Indians. The staking service provides yet another opportunity for cryptocurrency users on the exchange to put their holdings to work in turn for more profits. WazirX debuts Tezos staking […]
Indian youth nabbed after buying drugs with bitcoin from dark web
Bad actors are taking advantage of Bitcoin and other cryptocurrencies to ship-in drugs and other illegal items from dark marketplaces. However, law enforcement agencies are not getting weary either, in apprehending these people. In the case today, an Indian youth was caught after buying drugs with Bitcoin. 24yo Indian arrested after buying drugs with Bitcoin […]
India ranks second in blockchain wallet transactions
A recent study into blockchain activities has revealed that India sits second place in the number of blockchain wallet transactions. According to the survey, it showed the activities of blockchain wallet transactions increased drastically in July. The survey said that major digital assets also overpowered traditional assets in the financial market during the same period. […]
Crypto ban in India to become effective once more
Crypto ban in India after being lifted by the country’s apex court appears to be underway again according to local sources. Reportedly, the Indian government are working towards putting a new law in place that would ensure crypto ban in India. An anonymous government official who made this reveal claimed that two ministries alongside the […]
India’s Internet and Mobile Association welcomes Binance onboard
India’s Internet and Mobile Association (IAMAI), the committee that assisted in overturning the ban on cryptocurrency usage, has a new member on board – the blockchain firm behind the world’s biggest crypto exchange, Binance. Binance will now become an active member of the crypto-asset exchange committee Internet and Mobile Association of India, a not for […]
Indian crypto companies remain bullish despite rumors of ban
Indian crypto companies are still optimistic about a bright future. However, the sector was stirred to the depths when rumors started making rounds again last week that a government bill to prohibit Indian users from owning any form of crypto would come into effect soon. India’s crypto scene was finally seeing some action this year […]
Crypto mining in Kazakhstan legalized soon after bill passage
The House of Representatives is set to deliberate on the passage of a bill that will make crypto mining in Kazakhstan become a legal business. This is amidst the country being seen in the spotlight as a new hub for crypto mining. An emerging hub for crypto mining in Kazakhstan Kazakhstan is seen as an […]
BitGo to provide crypto custody service for India-based CoinDCX
BitGo, a cryptocurrency company based in the United States, will support CoinDCX, one of the top Indian digital currency exchanges with its crypto custody service, according to a report Thursday. This is coming in time where CoinDCX and other exchanges in the country are seeing more user activities. BitGo to protect CoinDCX’s assets The custodian […]
Cryptocurrency exchanges in India seek tax clarity from RBI
The cryptocurrency exchanges in India, which had witnessed a renewed wave of interest and enthusiasm after the Supreme Court’s landmark ruling against the RBI, have written to the central bank of India for seeking clarity on the tax front. Following the abolishing of RBI’s ruling that dramatically reduced the scope of cryptocurrency exchanges in India […]
Crypto boom in India revealed by Paxful survey
Paxful, an over-the-counter peer-to-peer exchange based in the US, conducted a crypto sentiment survey in India. According to the results of the survey, a crypto boom in India is due and will happen very soon. Further, the new regulations after the ban was lifted will support the growth of crypto in the country. On April […]
Investor turning to crypto India in dead slow market?
Amidst the chaos caused by the Coronavirus, it appears that the investors are now turning to crypto India for some breather. Recently an India-based cryptocurrency exchange has reportedly raised $3 million in a series of funding through various top investors from the United States. The funding round was led by the Polychain, HDR Group, and […]
