Bitcoin is plunging in part because of a report that India could ban trading in cryptocurrencies entirely. The report appears to have been misleading. The Indian government appeared to have been only announcing that it could add extra regulation to bitcoin – but in an ambiguous statement that hasn't stopped it dragging the value of cryptocurrencies down.…
The crypto industry in India is still in limbo this week while politicians acknowledge the proposed ban bill but remain evasive. The shift from regulation to blanket ban has sent shock waves through the nascent industry in the world’s second most populous country. Finance Minister Responds to Crypto Bill According to a new report examining…
Contrary to the beliefs of many crypto critics, Facebook’s Libra will not be a Bitcoin killer. In fact the new digital coin from billionaire Zuckerberg et al may not even be available to some of the world’s largest markets. India Still Hates Crypto, Libra Included The world’s largest social media company has no plans to…
Yesterday, the Bitcoin (BTC) and crypto asset community woke up to a harrowing tidbit of news from Bloomberg Quint. An article, which cited a “draft bill”, revealed that regulators in India, from multiple financial and judiciary agencies, revealed that those who involve themselves in the “sale, purchase and issuance of all types” of crypto assets,…
This week, a report claims that certain government departments across the country are supporting an outright ban on the “sale, purchase and issuance of all types” or crypto including Bitcoin, and could lead to a jail sentence for up to 10-years in prison for using the digital asset class as its intended. And while the…
A Bitcoin trader from India has taken his own life after being threatened by senior police in relation to losses he incurred whilst trading crypto assets on their behalf. Bharat Patel hanged himself on Sunday, leaving a suicide note for his widow. In the note, Patel details how Chirag Savani, the Narmada police force’s Deputy…
When the Reserve Bank of India (RBI) warned its citizens about the risks of trading and holding cryptocurrencies in December 2013, it was a reformist move. Cryptocurrencies, or should we say bitcoin, was a new phenomenon back then. Every country out there had its share of doubts about it. And correspondingly, they all, like India,…
New restrictions over e-commerce businesses operating within India’s borders have raised concerns that major online retailers like Amazon and Walmart will have it “tough” in the region. However, it’s Walmart that could be left on the ropes following this new rule change, considering Amazon’s dominance in the e-commerce space. Walmart’s Opportunity To Beat Amazon May…
The World Bank in its latest report revealed that India has received the largest amount in remittance in 2o18 with $80 billion being sent from abroad. At the same time, users paid $4 billion in cuts to payment services. Middlemen-Friendly Models Remittance in its current format has one-too-many checkpoints. If a person wants to send…
Ernst Young, one of the largest professional services firms in the world, will be hiring 2,000 employees in India in the next three years as part of its plan to build up its digital solution services in a number of domains including blockchain technology. EY to Invest $1 Billion to Expand into Blockchain, AI EY, which…