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…
India’s central bank wants to restore its crypto trading ban in the country, according to sources cited by Economic Times.The regional media house reported earlier Friday that the Reserve Bank of India is preparing to file a review petition in the Supreme Court against a ruling that effectively unbanned cryptocurrency trading in the country. RBI…
Bitcoin drop 7.4 percent Reserve Bank of India could get a boost with the latest draft bill proposing more stringent measures against crypto investors and developers. Yesterday’s FUD that India’s legislators are proposing a ban of cryptocurrency mining, trading or holding did expose RBI’s underbelly. Such punitive steps often trigger rebellion in a Streisand effect,…
This morning, the cryptocurrency market saw a significant headline that caused Dogecoin’s price action to drop. The Indian Central Bank came out with firm rejection against adopting cryptocurrencies in the country. There was an announcement from India’s Central Bank (RBI) calling cryptocurrencies “a tool which will wreak havoc on our economy.” Related Reading | What’s…
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 central government initially wanted to regulate the bitcoin sector but changed its stand due to objection from the Reserve Bank of India (RBI), reports Business Standard. The Indian daily claimed that Economic Affairs Secretary Subhash Chandra Garg, who was heading the interministerial committee to study cryptocurrencies, favored regulating them. He looked at bitcoin as an…
Holding or trading cryptocurrencies like bitcoin is not banned in India, union minister Anurag Singh Thakur told the upper house of Indian parliament. The Minister of State to Ministry of Finance said the issues of permitting the trading of/in cryptocurrencies remains under examination of a government-appointed interministerial committee. He stressed that the Reserve Bank of…