As the Indian government further complicates their stance on whether or not citizens should be allowed to trade and own cryptocurrencies, hackers have found a way to exploit government websites in order to make a fortune in cryptocurrency through a popular hack called cryptojacking. A team of security researchers have found that multiple government owned…
One of India’s largest cryptocurrency exchanges, Zebpay, is moving its operations to the Mediterranean island nation of Malta in an effort to maintain its operations after shutting shop last month. The move comes amidst an unprecedented cryptocurrency ban instituted by the Indian government. The new Malta-based exchange, which will still be called Zebpay, will offer…
The Indian government is reportedly getting ready with draft regulations on cryptocurrencies next month. The finance ministry set up a panel in November 2017 for the purpose of preparing a regulatory framework on the issue, but the central bank has created a hostile environment for digital currency trading platforms in 2018. After a multitude of…
An Indian teenager is in hot water after threatening to carry out a deadly attack on a U.S. international airport after he failed to receive support from the FBI in relation to an alleged Bitcoin scam. Bitcoin Scam Leads to Volatile Situation at Miami Airport Bitcoin’s price may be experiencing an extreme lack of volatility,…
Law enforcement officers in India have arrested Unocoin’s co-founder for operating a Bitcoin ATM kiosk, which the police called illegal. More arrests are likely, according to the police. Law Enforcement in India Expects to Make Further Arrests After Jailing Unocoin Co-Founder The co-founder of India’s first bitcoin ATM kiosk was arrested yesterday, the Times of…
The Reserve Bank of India has continued is tirade against the legalization of cryptocurrencies by filing an affidavit to the country’s supreme court. The Supreme Court will be holding a hearing on the case of legalizing cryptocurrency on September 17th, at which time the affidavit will be reviewed. According to a recent report, the RBI…
One of India’s largest digital asset exchange platforms has announced today that it will cease offering crypto buying and selling services. Zebpay Calls it a Day Due to Regulatory Pressures Zebpay stated that the Reserve Bank of India’s (RBI) clampdown on digital currencies had severely impacted its ability to do business. The exchange announced that…
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…
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…
Despite its best efforts to keep crypto out of India, it appears that the Indian government is still not willing to completely exclude cryptocurrencies. According to the new announcement, India is making plans to launch its own digital currency. India Plans to Launch a Government-Backed Cryptocurrency One senior government official from a board created by…