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“# Indian government is reportedly considering regulating crypto as a commodity ” The Indian government may be looking into establishing a legal framework for crypto as early as February based on digital currencies as an “asset.” According to an Oct. 26 report from Indian news outlet Business Today, officials with the country’s Finance Ministry said…
“# Right-wing Indian group calls for stricter crypto regulations ” Mohan Bhagwat, the head of the Rashtriya Swayamsevak Sangh, or RSS — a right-wing Hindu nationalist society — has urged India’s government to pursue crypto regulations “in the larger interest of society.” According to Asian News International, the RSS chief made these remarks during his…
“# Indian university joins Hedera decentralized governance council ” The Indian Institute of Technology Madras (IITM) has become a member of the Hedera Hashgraph’s council for decentralized governance. IIT Madras is one of the top institutes for technical education in India, which falls under the direct jurisdiction of India’s Ministry of Education. As a member…
“# India to use Ethereum blockchain to verify diploma certificates ” The Government of Maharashtra recently announced a partnership with Indian blockchain startup LegitDoc to implement a credentialing system powered by Ethereum (ETH) for providing tamper-proof diploma certificates. In an effort to counter the rise in document forgery, the Maharashtra State Board of Skill Development…
“# Indian regulator probes crypto exchange for alleged forex law violations ” Mumbai-based crypto exchange WazirX has been the target of much of India’s regulatory heat as the company continues to attract local investors. In the latest run-in with the government, the Directorate of Enforcement (ED) issued a show-cause notice to WazirX for allegedly violating…
“# Crypto exchanges in India still struggling to secure banking partners ” Commercial banks in India are reportedly reluctant to do business with crypto exchanges in the country. According to Reuters on Thursday, crypto trading platforms in India are still finding it difficult to open accounts with financial institutions. While there is no crypto ban in…
“# Existing Indian law could impose 2% levy on crypto bought from offshore exchanges ” According to local sources, the Indian Government’s 2% “equalisation levy” could be extended to crypto-assets purchased from off-shore exchanges. According to a June 22 report from Economic Times, analysts are inferring that existing law could require a 2% levy to…
“# Zebpay will join organization proposing regulatory framework for crypto in India ” Cryptocurrency exchange Zebpay and others doing business in India will reportedly be joining IndiaTech, an association aimed at providing regulatory clarity for crypto in the country. According to a Monday report from The Economic Times, executives from some of India’s crypto exchanges…
“# Proposed crypto ban legislation reportedly under review by India’s government ” India’s government is reportedly reviewing modalities for banning or regulating cryptocurrencies in the country. According to Bloomberg Quint, reports indicate that the government is in talks with financial regulators and industry stakeholders to examine the provisions of an earlier proposal that effectively called…
“# India to reportedly ditch Bitcoin ban agenda in favor of asset classification ” The tide may have finally turned for cryptocurrencies in India as reports indicate a softer stance by the government towards crypto. According to a report by The New Indian Express on Thursday, the government’s hostile stance towards Bitcoin (BTC) appears to…