Paytm, top Indian payment firm set to go crypto
TL;DR Breakdown Paytm, Indian payment firm considering offering crypto service. Payment firm is being held back by crypto regulatory uncertainty in India. More payment platforms continue to target Bitcoin. Paytm, India’s largest digital payment platform, said on Thursday that it would consider offering Bitcoin service. However, it is still thinking and is being hindered by […]
India to create new crypto regulatory framework
TL;DR Breakdown India wants to create a crypto regulatory framework. This new framework will eliminate the previous outright ban proposed. Top players in the country want the new crypto regulatory framework to go live by the next fiscal year/ The crypto sector is very diverse, with users in the space trading nothing less than 1,000 […]
Crypto investment has increased exponentially in India and worldwide since 2019
TL;DR Breakdown • The most used cryptos are Altcoins like Ethereum and ADA.• Crypto investment took off after celebrities like Elon Musk gave their opinions. Crypto investment has undergone slight changes this year, considering that Bitcoin is not the only form of trade. According to WazirX researchers, crypto investments are expanding into new territories as […]
Indian government contemplates possible taxing of crypto gains
TL;DR Breakdown India may begin to tax crypto gains, i.e, profit from crypto trading. The Indian government has a controversial stance on crypto industry. 18 percent tax would be imposed on foreign crypto exchange firms in India Authorities in India have begun working on how they will tax crypto gains, i.e., profits made from cryptocurrency […]
India establishes new crypto regulations
TL;DR Breakdown • The government of India is working to develop new crypto regulations in the new draft bill.• According to recent reports, the Indian government will focus regulations depending on the end-use of cryptocurrencies. The government of India would be working on establishing new rules that allow it to regulate cryptocurrencies. According to reports, […]
India might launch digital rupee pilot programs in December
TL; DR Breakdown: The Indian central bank may begin testing the digital rupee in December. The RBI is “extremely careful” with the developmental processes, according to the governor. The central bank of India is considering launching pilot programs for a potential digital rupee, the nation’s legal tender, starting December 2021. India is among the list […]
Gajesh Naik: Miracle 13-year-old DeFi, NFT developer
TL;DR Breakdown 13-year-old Indian boy who developed DeFi, NFT platform. Gajesh has horned many computer skills and receives tutelage from MIT Stanford professor. Gajesh Naik is a 13-year-old Indian boy who has made newspaper headlines for weeks now owing to his enormous achievement in the crypto space. The young computer expert has left mouths open […]
Indians undisturbed by rigid regulation as crypto investment surge by 19,000%
TL;DR Breakdown Investment in crypto by Indians surge YoY India remains tough on crypto There has been a massive rise in crypto investment in India despite rigid regulations put in place by authorities in the country. Indians are also undisturbed by threats from lawmakers in the country that they could outlaw cryptocurrencies. Instead, they have […]
India to rethink stance on cryptocurrency
TL;DR Breakdown India may rethink its rigid outlook on crypto. The country is also looking at improving on its CBDC. India may be having a rethink on its stand on cryptocurrencies. This is according to a new report that suggests regulation rather than an outright ban on digital assets is in the offing The report […]
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 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 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 […]
Pluto exchange scammer nabbed in India
TL;DR Breakdown Pluto Exchange principal nabbed for fraud How the scheme deceived people into investing 25 million Ruppes lost to the scam Umesh Verma, Pluto Exchange principal, after pulling an exit scam back in September 2020, has been nabbed at Indira Gandhi International Airport in Delhi on Thursday. The suspect, a 60-year-old alongside his son, […]
Why India wants to tax Bitcoin
TL;DR Breakdown India is looking into taxing Bitcoin users by 18%. India will put Bitcoin down as an intangible asset. The country likely needs money to cope with covid 19 expenses. Why India wants to tax Bitcoin India is considering taxing all its Bitcoin users by 18%. The country can tax the investment coin by […]
Block.one led CoinDCX $14 million Series B funding
TL;DR Breakdown: CoinDCX has completed its third fundraising round this year, bagging almost $20 million combined. In this latest round led by Block.one, the exchange raised $13.9 million, to help scale its operation. One of the leading digital currency companies in India, CoinDCX, has reportedly raised almost $14 million from prominent crypto companies, in its […]
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 cryptocurrency: Industry expansion continues despite regulator reluctance
British crypto-banking services provider, Cashaa, to launch a new bank in India called Unicas. Other noteworthy commitments to the Indian cryptocurrency industry spur growth as Binance and Polaris enter the market. This is despite mixed signals from law-makers and policy-makers. The Indian cryptocurrency industry receives a boost from the entry of crypto-banking services provider Cashaa, […]
Indian exchange, Unocorn prepares for growth with $3.5M Series A
The Indian cryptocurrency industry notably became more lively and attractive to foreign investors since March this year, especially after the Supreme Court squashed the central bank’s circular ban on digital currencies. Today, one of the long-standing Indian exchanges, Unocorn, has been able to raise its valuation following the funding it garnered in a new but […]
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 […]
Blockchain infrastructure plan introduced by Tamil Nadu
Blockchain regulations in Tamil Nadu will be the first of its kind in India Fresh investments could generate over 83.000 new jobs The state government plans to improve cooperation between the academic community, start-ups, and industry Tamil Nadu, the Indian state, exposes its new plans for technological advancement in infrastructure. Their plan is to implement […]
Blockchain for education taking precedent in South Asia
Blockchain for education may be the new trend in South Asia. KEY Foundation initiates blockchain ecosystem in India. MadLab working with British Council and local stake holders for blockchain project in Pakistan. Blockchain adoption is generally on the rise, but blockchain for education is one of the most important uses of this technological advent. Especially […]
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 […]
India’s Prime Minister Twitter Account Hacked by ‘John Wick’ Cyber Gang
India’s Prime Minister, Narendra Modi is the newest world leader to suffer a cyber attack, after a Twitter account affiliated to his exclusive website got hacked. The cyber criminals used the compromised Twitter account to ask for crypto funds. Twitter verified the alleged cyber attack and has since pulled down all the tweets seeking to […]
DeFi and the Unbanked – the Biggest Assault on Power Ever?
DeFi could be the biggest help to the global poor there is, but it will take some changes to get it into action.
Indian crypto ban unlikely as OKEx launches new platform in India
One of the leading crypto exchanges, OKEx, has recently announced that it has set up shop in India despite the country facing a tough future for digital assets. With rumors of another Indian crypto ban looming on the horizon, CEO of OKEx, Jay Hao, has said he thinks the conclusion might be otherwise. Talking about […]
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 […]
Bitcoin P2P trading hits all-time highs with India in the lead
A recent Twitter post shared by a crypto enthusiast has thrown light on the Bitcoin P2P trading volume statistics from last week. The six countries that come out at the top are India with $3.4 million trading volume, Ghana with $1.7 million, closely followed by the Philippines and Argentina with $1 million each and Mexico […]
India’s Tech Mahindra to fight digital piracy with blockchain
India’s multinational technology solutions provider Tech Mahindra is turning to IBM blockchain to tackle digital piracy issues in the entertainment industry and hand the control back to content creators. The advent of digital streaming services was a welcome change for industry heavyweights; however, their popularity has given rise to another prominent issue of content piracy. […]
Blockchain-based supply chains to increase farmer’s share to 50%
One of India’s largest farm producer organizations (FPO), Sahyadri Farmers Producer Co, is setting up blockchain-based supply chains to help farmers get as much as 50 percent shares from their produce. Using blockchain-based supply chains for farmers will hopefully increase efficiency and transparency in the traceability of food products. Farm Producer Organizations are member-based institutions […]
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 […]
India digitizes shipping documentation process with blockchain
India is automating and simplifying the time-consuming and cumbersome process of shipping documentation using the CargoX blockchain platform, announced the country’s marine news outlet, The Maritime Executive, on June 11. India’s supply chain industry is undergoing rapid transformation, thanks to its increasing reliance on blockchain technology. Last month, IBM TradeLens announced its partnership with the […]
Tradehorn plans new Indian crypto exchange as market booms
The squashing of RBI’s (Reserve Bank of India) circular ban on cryptocurrencies by the country’s Supreme Court has unarguably opened more doors for crypto industry-related developments. While existing Indian crypto exchanges are posting increased user activities, Tradehorn is looking to launch another trading platform for Indian users this month. Tradehorn to launching Indian crypto exchange […]
ZebPay in India hurdles regulations with Chainalysis
ZebPay in India is looking to keep up with that by expanding its partnership for Chainalysis KYT, i.e., Know Your Transaction. Enhanced security measures among Indian digital currency exchanges are highly recommended, following the regulatory developments in the country. ZebPay in India expands with Chainalysis According to a recent report, the Indian digital currency exchange, […]
Indian banks remain anti-crypto despite the Supreme Court’s ban lift
The Reserve Bank of India (RBI) has placed no prohibition on banks to provide accounts to cryptocurrency traders; however, many banks remain anti-crypto and deny services to cryptocurrency users. The Reserve Bank of India uses monetary policy to create financial stability in India, and it is charged with regulating the country’s currency and credit systems. In a recent […]
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 […]
Matic network validator: $40 billion Infosys to enable a secure platform for DApps
The $40 billion NYSE-listed technology company, Infosys, will become the latest Matic Network validator. The Layer 2 scaling solution, Matic, says the collaboration will facilitate in providing a robust and more secure environment for its increasing Decentralized Applications (DApps) ecosystem. Infosys joins DApp ecosystem as Matic network validator Matic, which is among the first Binance […]
