Indian Central Bank Informs Government of Major Crypto Concerns — Digital Rupee ‘Receiving Our Full Attention’

India’s central bank governor Shaktikanta Das has revealed that the bank has “major concerns” about cryptocurrencies, and it has informed the government of them.

Indian Central Bank Playing by Same Anti-Crypto, Pro-CBDC Rules as China, EU

The head of the Reserve Bank of India (RBI), the subcontinent’s central bank, has again indicated that the government might seek to enact a crypto crackdown – while attempting to gazump the crypto sector by releasing a digital rupee. In an interview with CNBC-TV18, RBI Governor Shaktikanta Das appeared to take the same kind of tack that central banks

India’s Warren Buffett Wants Regulators to Ban Bitcoin and Focus on Digital Rupee

Indian billionaire Rakesh Jhunjhunwala, sometimes referred to as the Warren Buffett of India, says that the government should ban bitcoin.

Indian banks put crypto traders' accounts under the microscope

HSBC, HDFC and Citi are now requiring crypto traders in India to provide information about their activities or risk losing their funds. Cryptocurrency traders and investors in India are among the latest casualties in an increasing trend of personal account closures by global banking operations.  India’s parliament is currently contemplating a nation-wide crypto ban which local industry critics, such as former Coinbase CTO Balaji Srinivasan have compared to “banning the internet for five years.” The Economic Times reports that customers of private banks in India, such as HDFC, HSBC and Citi, have been receiving notices this year asking them to clarify crypto-related transactions, often requiring them to visit their local bank branch in person.

Here's why this billionaire wants regulators to ban Bitcoin in India

As regulators in India mulling over a bill that could ban cryptocurrencies, an Indian billionaire is looking forward to the same.  Rakesh Jhunjhunwala, who has a $3.8 billion net worth, called for The post Here's why this billionaire wants regulators to ban Bitcoin in India appeared first on AMBCrypto.

State Bank of India joins JPMorgan’s blockchain payments network

A major government-owned bank, the State Bank of India, has become the first Indian bank to join JPMorgan’s blockchain network Liink. The State Bank of India, or SBI, a major Indian government-owned bank, is looking to improve cross-border payments with a blockchain solution by American investment bank JPMorgan Chase. According to a Feb.

Inside the Fight Against India’s Proposed Crypto Ban

As the Indian government’s crypto ban draft bill looms large, Indian crypto businesses are coordinating efforts to convince the government that regulation is the better approach.

Indian Official Provides Updates on Crypto Bill and Transition Period for Crypto Holders: Report

As the Indian government gets closer to moving forward with the cryptocurrency bill, an official from the Ministry of Finance reportedly explained what discussions the government has been having regarding the crypto bill and the impending legislation.

More harm than good? Nigerian crypto users in disbelief over CBN ban

Crypto and blockchain stakeholders in Nigeria have criticized the central bank’s decision to ban banks from servicing crypto firms. The Central Bank of Nigeria has banned banks from servicing crypto exchanges in the country in a move that echoes actions taken by its Indian counterpart back in 2018.

India’s Crypto Community Fights Back As Ban Bill Turns Into Tiresome Soap Opera

Crypto enthusiasts in India have run out of patience with unsourced reports of the government’s alleged forthcoming crypto crackdown – and have challenged New Dehli to come clean with its intentions. On Twitter, Indian crypto community members say that they are tired of the government allegedly leaking info to reporters about crypto “bans” – and want a

India's crypto ban is coming, hodlers to be given transition period: Bloomberg

An anonymous Indian official has claimed the country’s parliament will soon introduce a blanket bank on crypto assets, and give hodlers three-to-six months to liquidate. An anonymous source claiming to be a senior Indian Finance Ministry official has claimed that the use of crypto assets will soon be completely banned in the world’s second most populated country. Speaking to Bloomberg, the source claimed that the use of cryptocurrency in all its forms will be banned under a new law expected to soon be introduced in the parliament.

Indian Finance Minister Answers Questions on Cryptocurrency Plans and Ban Proposal

India’s Finance Minister Nirmala Sitharaman has answered some questions regarding cryptocurrency in Rajya Sabha, the upper house of India’s parliament.

Indian Crypto Exchanges Flooded With INR Deposits and New Users After Elon Musk’s Tesla Revealed Bitcoin Purchase

Indian crypto exchanges have been experiencing a flood of INR deposits and surging trading volumes since it was revealed that Elon Musk’s Tesla purchased $1.5 billion worth of bitcoin.

Indian Government Confirms Crypto Bill Is Being Finalized — Existing Laws Inadequate

The Indian government has spoken about the cryptocurrency bill again.

India's crypto ban: How alarmed should Indians Bitcoin traders be?

The Indian cryptocurrency scene is currently waiting on an imminent Crypto Bill, which may define the future of digital assets in the country.

A turn for the worse? India’s crypto plan unsettling to local industry

The Indian crypto industry sees a brief panic over the government’s plans to ban “private cryptocurrencies” and explore the need for a CBDC. The Indian Crypto community has been involved in discussions with the government about how it should perceive cryptocurrencies and blockchain technology before finding ways to regulate the industry ever since the government placed a now-defunct blanket ban on banks servicing crypto firms in April 2018.  In the latest update, on Jan.

Indian parliament reportedly considering fast-tracking crypto bill

Government officials may be planning to introduce the law potentially banning crypto “within a month” of the ordinance clearing. The Indian government may be taking a legislative shortcut to pass a bill recently proposed to regulate digital currencies in the country. According to a report from news outlet CNBC-TV18, the Indian government may take the “ordinance route” to ban the use of private cryptocurrencies in the country as well as create a regulatory framework for a digital rupee issued by the Reserve Bank of India.

Indian Government Prepares to Fast Track Crypto Bill — Plans to Introduce Cryptocurrency Law in a Month: Report

The Indian government is reportedly considering taking “the ordinance route” to quickly pass the cryptocurrency bill.

India’s Central Bank RBI Close to Digital Currency Decision as Paypal Exits Indian Payments Market

The Reserve Bank of India (RBI) is actively working on a digital currency and will make a decision “very soon,” the central bank has reportedly confirmed.

Indian Exchanges Launch Campaign Seeking to Avert Potential Crypto Ban

The exchanges have set up websites helping supporters email members of parliament.

Indian Crypto Industry Launches Campaign Urging Lawmakers to Dismiss Crypto Ban Bill

Indian crypto exchanges have pooled their resources together and launched a campaign to gain support from as many parliament members as possible about cryptocurrency regulation.

Indian Government Clarifies Position on Cryptocurrency and Digital Rupee

The Indian government has clarified its position on cryptocurrency and the country’s digital currency in answers provided by the Ministry of Finance in Rajya Sabha, the upper house of India’s parliament.

Indian government looking to crack down on crypto scams with proposed ban: Cashaa CEO

Kumar Gaurav said "there is no way any government" can outright ban crypto given its nature as a global and decentralized system.

India Proposes Cryptocurrency Ban

The Indian government has proposed a plan to “ban all private cryptocurrencies" and introduce a central bank digital currency (CBDC).

Indian Parliament to Consider Bill That Creates Digital Rupee While Banning Cryptocurrencies in Current Session

The Indian government has finally moved forward with a cryptocurrency bill.

Indian Central Bank Sees Cryptocurrencies Gaining Popularity, Exploring Digital Rupee

India’s central bank, the Reserve Bank of India (RBI), has published a booklet with a section about cryptocurrency and the digital rupee.

Reserve Bank of India 'exploring the possibility' of a digital currency

The bank still claimed that government bodies and regulators in India are both “skeptical” and “apprehensive” about crypto. Less than a year after the Indian supreme court overturned the Reserve Bank of India’s ban on crypto businesses, and the bank’s position on digital assets is looking slightly more bullish. According to a booklet on payments released today by the Reserve Bank of India, or RBI, the bank is “exploring the possibility as to whether there is a need for a digital version of fiat currency.” The bank added that if it found a need, it would look into ways to put digital currency into use. The RBI booklet acknowledged the popularity surrounding cryptocurrencies worldwide, but claimed that Indian regulators and local government bodies are both “skeptical” and “apprehensive” about them.

Breach at Indian exchange BuyUCoin allegedly exposes 325K users’ personal data

BuyUCoin initially denied the reports of a data breach, but added that all user funds are safe. Users of Indian crypto exchange BuyUCoin have reportedly been affected by a breach compromising personal data of more than 325,000 people. According to a report from Indian news outlet Inc42, a hacking group by the name of ShinyHunters leaked a database containing the names, phone numbers, email addresses, tax identification numbers and bank account details of more than 325,000 BuyUCoin users.

Indian Crypto Exchange Buyucoin Hacked, Sensitive Data of 325K Users Reportedly Leaked

Indian cryptocurrency exchange Buyucoin has reportedly been hacked and sensitive data of about 325,000 users has reportedly been leaked onto the dark web.

Finlaw Associates to Submit Draft Cryptocurrency Regulation to Indian Govt as Community Demands for Clarity, Mr. Mishra Explains

A prominent Indian law firm Finlaw Associates along with Estonian Crypto Association recently announced its intention to submit a representation to the Indian government regarding cryptocurrency regulations in the country.

India Seizes Bitcoins Worth $1.2 Million From Hacker of Government Website and Crypto Exchanges

Indian police have seized $1.2 million in bitcoin from a hacker who allegedly hacked a government website, online game portals, and cryptocurrency exchanges.

Indian Doctors Warn of Illegal Covid-19 Vaccine Sales for Bitcoin: Citizens Urged to Wait for Government Approved Vaccine

Indian doctors have warned that the sale of unauthorized Covid-19 vaccines on the black market, where vendors ask for bitcoin as payment, is illegal.

Lawsuit Filed to Stop a Global Cryptocurrency Scam Spreading in India

A class-action lawsuit has reportedly been filed against a cryptocurrency scam that has duped many Indian investors.

Indian Government Deploys Blockchain and AI to Enhance Suppy Chain

The Indian government has deployed high-end technologies like blockchain and artificial intelligence (AI) in its public procurement portal (GeM) to enhance trade.

Indian Cryptocurrency Fraudster Arrested For Duping $350K From 45 Victims

By falsely promising 20%-30% monthly returns for investing in a new cryptocurrency, a 60-year-old fraudster had duped $350,000 from 45 victims.

60-Year-Old Man Cons Over 50 People with Indian Crypto Scam

Police have revealed another crypto scam in India has left more than 50 people counting losses.

Alleged 'kingpin' of a 25M rupee Indian crypto scam arrested at Delhi airport

The man is said to have convinced people to invest in a 2017 scheme promising monthly returns of over 20%. A 60 year-old man was arrested at Indira Gandhi International Airport in Delhi on Dec.

Police Arrests Another Suspect on the 100 BTC Ransom Kidnapping in India

Indian authorities have arrested another suspect in relation to the recent kidnapping of an eight-year-old son of a local crypto investor.

Indian crypto bank opens first physical location in Jaipur

The world’s first physical crypto bank has launched in India that will allow users to transact in cryptocurrency and fiat through a single account.

Indian crypto bank opens physical location, eyes 100 branches by 2022

India is now home to the world’s first physical crypto bank branch despite regulatory uncertainty surrounding digital currencies in the country. Unicas, a joint venture between Indian online crypto banking platform Cashaa and United Multistate Credit Co-op Society has launched a physical crypto bank branch in Jaipur, India. Back in October, Multistate announced plans to offer both online and physical crypto banking services across its 34 locations in northern India. Users will be able to access both fiat and crypto-asset services at the bank.

Indian Crypto Tax, Listed VR Company Diversifies Into Bitcoin + More News

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news. Tax news The Indian government could become the latest to impose a tax on crypto trading.

India Considers 18% GST on Bitcoin Transactions

The Indian government is reportedly mulling over imposing an 18% goods and services tax (GST) on bitcoin transactions.

India Mulls Imposing 18% Tax on Bitcoin Transactions

The move is viewed by some as a sign the Indian government is warming up to cryptocurrencies.

India considers proposal to tax Bitcoin transactions at 18%

The Indian Government has moved towards potentially implementing a tax of 18% on Bitcoin trading in the country. According to reports, the central government is currently weighing a proposal to imp The post India considers proposal to tax Bitcoin transactions at 18% appeared first on AMBCrypto.

Indian Police Bust International Bitcoin Extortion Rackets, 96 Arrested

Ninety-six people have reportedly been arrested in India for allegedly extorting bitcoin from foreigners.

Kidnappers Demand 100 BTC Ransom for The Son of an Indian Crypto Investor

An eight-year-old boy in India was kidnapped and the criminals now request a ransom of $2.3 million in BTC.

Indian crypto exchange CoinDCX raises $14M in its third round in 2020

Including the millions it collected in previous rounds, the company has raised approximately $19.4M. CoinDCX, the largest cryptocurrency exchange in India, continues to aggressively expand its business with a massive new fundraise. According to a Dec.

Spark (FLR) trades at US$1 a token on leading Indian crypto platform Giottus

Key highlights Giottus, an official partner of Flare Airdrop, has opened trade of Spark tokens for its users on 12th December 2020 – a global first More than 15,000 innovators have traded Sp The post Spark (FLR) trades at US$1 a token on leading Indian crypto platform Giottus appeared first on AMBCrypto.

Indian Crypto Trader Arrested for Allegedly Using USDT to Launder Money on Behalf of Chinese Online Betting Scammers

An Indian law enforcement agency has arrested Naisar Kothari, a cryptocurrency trader, for his role in a money-laundering scheme linked to online Chinese betting scams.

India’s Banks Are Once More Serving Crypto Traders and Exchanges

Indian banks have started doing business with select cryptocurrency exchanges and their customers, CoinDesk has confirmed.

CryptoBiz Exchange Launches in India

Recently, cryptocurrency trading in India has spiked and grown at an unprecedented level.