India

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India Exchange Unocoin Suspends Withdrawals Following Central Bank Demands

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“Deposits/Withdrawals Notice,” came the post title from popular Indian cryptocurrency exchange Unocoin this week. “As per orders from RBI,” the exchange explained, “bank INR withdrawals and INR Deposits have temporarily been disabled. Once an alternative method of funding is identified and deployed, we will resume the deposit and withdrawal services.” Also read: Cryptowhispers: DDoS Attacks, … Read more

Indian Crypto Regulation Ready by September: Official

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The Indian government is expected to issue detailed cryptocurrency guidelines by September, a senior official from the country’s Ministry of Finance reportedly said. Consultations with all stakeholders including the central bank have already begun. This announcement is independent of the supreme court’s hearing of petitions relating to crypto regulation in India. Also read: Yahoo! Japan Confirms … Read more

Indian Central Bank Makes a Case Before Supreme Court Against Allowing Crypto Use

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India’s central bank told the country’s supreme court on Friday that “allowing dealings in cryptocurrencies like bitcoin would encourage illegal transactions.” Other crypto petitions being heard include one asking the government to “take emergency steps to restrain the sale and purchase of illegal cryptocurrencies.” Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space RBI’s Argument … Read more

Indian Supreme Court Heard Crypto Petitions Today But RBI Ban Stays

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India’s Supreme Court heard the petitions against the crypto banking ban by the Reserve Bank of India (RBI) today. After hearing some arguments from both sides, the court decided to set another hearing date, allowing some of the regulators involved to respond to the petitions. Also read: Yahoo! Japan Confirms Entrance Into the Crypto Space Supreme … Read more

India’s KoinEx Loop Platform Offers INR Trading Despite Central Bank Ban

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The cryptocurrency market situation in India is changing fairly quickly. The country’s Reserve Bank maintains a ban on cryptocurrency trading with the INR, but a new business model is emerging. KoinEx, one of the many platforms in the country, is now launching a LocalBitcoins competitor to continue exposing clients to Bitcoin and select altcoins. KoinEx … Read more

Indian Bitcoin Ponzi Schemer Offers to Repay Initial Investments to Victims

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The alleged bitcoin Ponzi kingpin, Amit Bhardwaj, has reportedly offered to pay back the initial investments in Indian rupees to those who lost money through his scheme. However, victims want the current value of their cryptocurrencies, not the initial investments. Zebpay, one of India’s largest crypto exchanges, has also been called in to help with … Read more