Bookmarking Crypto Insights
Auto Added by WPeMatico
The Reserve Bank of India’s ban on banks’ dealings with crypto may be defunct but the institution remains apprehensive of — if not outright hostile to — cryptocurrencies. Go to Source Powered by WPeMatico
Indian central bank, the Reserve Bank of India (RBI), has officially advised banks that its banking ban circular is no longer valid as it was set aside by the country’s supreme court more than one year ago. Despite the supreme court’s ruling, banks have been citing the RBI circular when dealing with cryptocurrency. RBI Tells … Read more
Banks like HDFC and State Bank of India reportedly cautioned customers against crypto, citing the RBI’s quashed crypto circular. Go to Source Powered by WPeMatico
The Indian government is reportedly looking to form a new “panel of experts” to focus on ways to regulate the cryptocurrency industry in the country. “There is a view within the government that the recommendations made by Subhash Garg are dated and a fresh look is needed at use of cryptos rather than a total … Read more
On Wednesday, cryptocurrency markets continue to drop lower in value, as the entire crypto-economy has plunged 17% below the $2 trillion mark and now rests at $1.801 trillion. Bitcoin, the leading cryptocurrency in terms of market capitalization, touched a high of $40,770 per unit at 4:48 a.m. (ET). A few hours after hitting that price … Read more
A new panel will be formed to address “outdated” recommendations on crypto trading. Go to Source Powered by WPeMatico
In the middle of a spike in cases, more than 4,000 people are dying in India every day as a direct result of the pandemic. Go to Source Powered by WPeMatico
Former Finance Secretary Subhash Chandra Garg, who headed the committee that drafted India’s cryptocurrency bill, says that the government should not ban cryptocurrencies but regulate them instead. He further urges the government to encourage crypto services. Indian Government Should Regulate Cryptocurrencies and Encourage Crypto Asset Services Subhash Chandra Garg said Thursday at a virtual event … Read more
India’s payments authority, the National Payments Corporation of India, has reportedly said that it will not ban cryptocurrency transactions. Banks are to make their own decision whether to allow crypto transactions. The National Payments Corporation of India (NCPI), has refused to ban cryptocurrency transactions, local media reported Thursday. NCPI runs the Unified Payments Interface (UPI), … Read more
An internet startup association in India has asked the government to define cryptocurrencies like Bitcoin as digital assets and not currencies. Go to Source Powered by WPeMatico