TagReserve Bank of India

Newsflash: Indian Regulators Officially Propose Total Cryptocurrency Ban

India, bitcoin, crypto

An Indian inter-ministerial committee on cryptocurrency and blockchain technology has finalized a report recommending both the establishment of a digital Rupee and a ban of cryptocurrencies. Ban Crypto, Establish E-Rupee The roughly 200-page report spends thousands of words breaking down and praising the potential uses of blockchain technology, specifically in areas like land management...

Facebook’s Crypto Libra May Kill Launch in India, Its Biggest Market: Report

India, Facebook, Crypto, Libra

By CCN Markets: Facebook’s cryptocurrency Libra is expected to change the way payments are made across the globe when it launches next year, but there’s one market that the social media giant might be giving a miss – India. The Economic Times, India's biggest business daily, reports that Libra will not be available in India, citing people with direct knowledge of the matter: “The social network’s...

Indian Government in Dizzying Reversal Sponsors Free Crypto Course

India, bitcoin

By CCN Markets: The Indian government continues to project a deep level of hypocrisy as it turns its attention to sponsoring a blockchain and cryptocurrency course. As CCN recently reported, the government is simultaneously proposing an insane anti-crypto bill with hard jail-time for bitcoin users. The undergraduate course, which is entitled Blockchain Architecture Design and Use Cases, is...

Powerful Indian Tech Lobby Urges Central Bank to Favor Bitcoin Startups

India, bitcoin, crypto

By CCN: Dominant Indian tech lobby, NASSCOM, is pushing the Reserve Bank of India to be inclusive with cryptocurrencies like bitcoin in its regulatory sandbox to shape the future of the country's fintech industry. NASSCOM, which represents the $154 billion Indian IT sector and is a powerful voice in the industry, is calling for the RBI to include crypto in its so-called 'Draft Enabling Framework...

India's Supreme Court Delays Crypto vs Central Bank Fight to July

India, cryptocurrency

By CCN.com: The courtroom battle between the Indian cryptocurrency exchanges and the Reserve Bank of India (RBI) has reached its ninth month but remains far from conclusion. On March 29, the Supreme Court of India moved the hearing to a new date in July. It was the sixth time in a row when the apex court had adjourned the so-called Crypto vs. RBI case. The move breathed further extension into the...

India's Biggest Conglomerates Explore Blockchain for B2B Payments

india bitcoin cryptocurrency crypto

Despite a plethora of sometimes unclear regulations and restrictions, large businesses and banks in India are still embracing cryptocurrency -- or at least some of the technology that underpins it -- as a more reliable way to reconcile accounts, make payments, keep proper records, and manage internal funds. According to a report in the India Times, a number of Indian corporations are currently...

'Too Early' for Central Bank Digital Currency: India Shelves Plans for a Crypto Rupee

India Central bank digital currency crypto rupee

Plans to issue a state-backed cryptocurrency in India have stalled, months after the country’s central bank gave indications that it was considering the idea. According to The Hindu Business Line, the government is no longer interested in the state-backed digital rupee. Citing a source, the report by the publication indicated that the idea of a crypto-rupee was dropped on the grounds that it was...

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