Panic Withdrawals at Indian Bank Over Alarming KYC Notice

Panic Withdrawals at Indian Bank Over Alarming KYC NoticeHundreds of customers went on a withdrawal spree after an Indian bank announced its revised KYC requirements. The bank’s action followed the decision by the Reserve Bank of India (RBI) to include the National Population Register letter as a valid KYC document for opening bank accounts. Customers are worried their funds could be frozen. Also […]

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Indian Supreme Court Warms Up to Crypto – RBI’s Arguments Not Convincing

Indian Supreme Court Warms Up to Crypto - RBI's Arguments Not ConvincingIndia’s supreme court heard the crypto case on Thursday, starting with the arguments by the counsel for the Reserve Bank of India (RBI). After pointing out that the RBI ban only hurts crypto businesses but does not stop crypto trading, the court explained that “being an honest contributor to the blockchain is more profitable than […]

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Regulatory Roundup: New US Crypto Tax Bill, Central Banks Join Forces on Digital Currencies

Regulatory Roundup: New US Crypto Tax Bill, Central Banks Join Forces on Digital CurrenciesIn this roundup, we cover an exceptionally busy week for crypto regulations around the globe. We start our coverage with the U.S. Virtual Currency Tax Fairness Act of 2020, actions by the SEC, Ripple’s lawsuit, India’s supreme court hearings, Australia green-lighting a bitcoin retail fund, Thailand approving a new crypto exchange, and new crypto guidelines […]

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Crypto vs RBI: Exchange Counsel and RBI Take Center Stage at Supreme Court Today

Crypto vs RBI: Exchange Counsel and RBI Take Center Stage at Supreme Court TodayIndia’s supreme court spent all day on Wednesday hearing extensive arguments from both the counsel representing crypto exchanges and the central bank, the Reserve Bank of India (RBI). The counsel for the central bank confirmed again that cryptocurrency is not banned in India, but still justifies the banking restrictions on the crypto industry. Also read: […]

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RBI Confirms Crypto Not Banned in India

RBI Confirms Crypto Not Banned in IndiaThe Reserve Bank of India (RBI) has confirmed that cryptocurrency is not banned in India. During the latest supreme court hearing of the crypto case, the central bank’s reply to the Internet and Mobile Association of India was read out in detail. The RBI clarified that it only fenced in the entities it regulates, such […]

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Indian Minister Inaugurates Blockchain Center of Excellence in Bengaluru

Indian Minister Augurates Blockchain Center of Excellence in BengaluruA Centre of Excellence in Blockchain Technology has been inaugurated by Indian Union Minister Ravi Shankar Prasad in Bengaluru. It will facilitate various government departments in their blockchain work, leading to large scale deployment of blockchain applications. Also read: Regulatory Roundup: EU-Wide Crypto Regulations, New Rules in Europe, US, Asia New ‘Centre of Excellence in […]

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Maduro Opens Crypto Casino in Venezuela

Maduro Opens Crypto Casino in VenezuelaVenezuela’s President Nicolas Maduro has authorized the opening of a casino at a luxury hotel in Caracas where bets must be placed in petros, the country’s national oil-backed digital currency. Several cryptocurrencies and fiat currencies can be exchanged into petros to wager in the casino. The proceeds are expected to be used for healthcare and […]

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New Bill in Oklahoma Proposes Depository for Cryptocurrencies Used by Government

New Bill in Oklahoma Proposes Depository for Cryptocurrencies Used by GovernmentA bill has been introduced in the U.S. state of Oklahoma to establish a new type of state-chartered financial institution that will be “the central depository for virtual currency used by governmental agencies in this state.” The new establishment aims to provide financial and technical services to crypto innovators and developers. Also read: Regulatory Roundup: […]

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Crypto Experts Join OECD ‘High Level’ Advisory Board

Crypto Experts Join OECD 'High Level' Advisory BoardThe Organisation for Economic Cooperation and Development, an intergovernmental body with 36 member countries, has formed “a high-level expert group” which includes executives from the crypto industry. They will provide advice in helping develop international blockchain policy principles. Also read: Regulatory Roundup: EU-Wide Crypto Regulations, New Rules in Europe, US, Asia ‘High-Level Expert Group’ Formed […]

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FATF Holds Global Forum to Discuss Crypto Supervision

FATF Holds Global Forum to Discuss Crypto SupervisionThe Financial Action Task Force (FATF) and over 50 delegations involved in crypto supervision recently gathered to discuss how to regulate crypto assets and related service providers. While examining three key areas, they stressed the importance of international cooperation, citing that cryptocurrencies are global products. Also read: Regulation Roundup: EU-Wide Crypto Regulations, New Rules in […]

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