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“# Indian IT giant Tech Mahindra to launch stablecoin tool for banks ” Indian multinational technology firm Tech Mahindra is developing a new stablecoin service targeting banks and financial institutions. The tech giant announced Monday that it has entered into an agreement with Dutch blockchain application incubator Quantoz to launch a “stablecoin-as-a-service” tool to reduce…
“# India’s largest crypto exchange launches NFT marketplace after 2,000% token surge ” India’s largest cryptocurrency exchange, WazirX, has launched a nonfungible token marketplace for the exchange of digital art, assets, intellectual property and more, reports India’s Economic Times. The launch comes hot on the heels of a month when WazirX’s in-house exchange token, WRX,…
“# Users of top Indian crypto exchange report seeing ‘0’ funds during outage ” Major Indian crypto exchange WazirX experienced disruptions caused by system failures for more than four hours Sunday. In a tweet at 5:24 PM UTC, WazirX CEO Nischal Shetty reported that the crypto exchange had “hit some internal limits” set by one…
“# Indian crypto users suspect Flipkart’s Bitcoin announcement is an April Fools joke ” Flipkart, India’s largest e-commerce company by sales, has said it will be accepting Bitcoin payments in what many suspect is an April Fools’ Day prank. In an announcement on Twitter today at 11:30 PM India Standard Time, Flipkart said it would…
“# Indian crypto exchange execs intensify lobbying efforts to prevent ban ” Nischal Shetty, CEO of Indian crypto exchange WazirX, and other stakeholders in the industry are reportedly working toward convincing the government to adopt more nuanced cryptocurrency regulations. According to a report by The Economic Times, the country’s Blockchain and Crypto Council has drafted…
“# India’s government orders companies to disclose crypto holdings ” While the legal status of cryptocurrencies remains undecided in India, companies in the country involved in virtual assets must now report their activities as part of their financial statements. The new rule follows amendments made by the country’s Ministry of Corporate Affairs to Schedule III…
“# Banning Bitcoin is like rejecting the US dollar, entrepreneur warns India ” An Indian cryptocurrency ban would have grave implications for the future of the country’s economy, and would result in currency devaluation “of the worst form,” says blockchain entrepreneur and HashCash CEO Raj Chowdry. Chowdry, also the managing director of the United States-based…
“# Coinbase hiring in India despite potential crypto crackdown ” Leading U.S. cryptocurrency exchange Coinbase has announced it is “establishing a business presence in India” despite uncertain regulatory headwinds for crypto in the country. In a March 25 blog post, Coinbase revealed it is planning to house “some IT services, including engineering, software development and…
“# Amid ban rumors, billionaire Nandan Nilekani says crypto can help Indians ” Prominent Indian entrepreneur and government advisor Nandan Nilekani has spoken in favor of cryptocurrencies as the government reportedly mulls a ban on private digital assets. Nilekani joined a Clubhouse session with angel investor Balaji Srinivasan to discuss the state of crypto in…
“# Decentralized technology can help protect democracy around the globe ” Recent political developments in the United States demonstrate the critical challenges that centralized technology platforms pose to democracy — in stark contrast to the powerful role social media played in pro-democracy movements in the Middle East and Hong Kong. U.S. election misinformation and disinformation,…