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“# Crypto exchange giants mulling India foray despite regulatory uncertainty ” Some of the biggest names in the crypto exchange business are reportedly eager to capture India’s cryptocurrency trading market even as the government is yet to issue clear-cut regulatory policies. According to Reuters, sources say Kraken, Bitfinex and KuCoin are examining the potential for…
“# Indian central bank remains anti-crypto, affirming ‘no change’ in its stance ” Its infamous circular directing banks to cease servicing crypto firms may have been overturned in the courts but India’s central bank is showing no signs of softening its stance towards cryptocurrencies. Reserve Bank of India Governor Shaktikanta Das reiterated the institution’s position in…
“# 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…
“# 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…
“# Public, private actors in Delhi trial blockchain-based solar energy trading ” Tata Power DDL, a leading electricity distribution company that serves over seven million residents in North Delhi, is piloting a solar energy trading project together with Australian blockchain firm PowerLedger and the India Smart Grid Forum, or ISGF. The pilot, which runs until…
“# India’s central bank ‘very much in the game‘ with digital currency project ” Indian authorities continue to express support for a government-backed digital currency to replace privately-issued cryptocurrencies. According to Bloomberg, RBI governor Shaktikanta Das has expressed the central bank’s determination to create a digital rupee. According to Das, India’s central bank is “very…
“# India securities regulator to reportedly bar IPO promoters from holding crypto ” In what seems to be another anti-crypto move by regulators in India, IPO promoters may soon be forced to sell their crypto holdings before being allowed to participate in raising funds. According to a report by the Economic Times, the Securities Board…
“# Indian parliament reportedly considering fast-tracking crypto bill ” The Indian government may be taking a legislative shortcut to pass a bill recently proposed to regulate digital currencies in the country. According to a report from news outlet CNBC-TV18, the Indian government may take the “ordinance route” to ban the use of private cryptocurrencies in…
“# Indian government looking to crack down on crypto scams with proposed ban: Cashaa CEO ” Kumar Gaurav, founder and CEO of cryptocurrency exchange Cashaa, believes the Indian government’s latest efforts to regulate digital currencies are more of an attempt to prevent illicit activities in the industry rather than outright ban crypto. According to a…