India

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RBI Denies Creating Crypto, Blockchain and AI Research Unit

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India’s central bank has reportedly denied setting up a unit to research cryptocurrency, blockchain and artificial intelligence as the media reported last month. This unit was supposed to research, draft rules, and supervise new emerging technologies. Also read: 160 Crypto Exchanges Seek to Enter Japanese Market, Regulator Reveals RBI Denies Setting Up Crypto Research Unit There … Read more

Bitcoins For Secured Loans – Indian Industry Still Doubtful

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Secured loans in the digital lending space are witnessing a lot of innovations. But thinking of cryptocurrencies as collateral forms for these loans is still a big question, one full of regulatory and practical concerns. Also read: Japanese Corporation Begins Offering Loans Secured by Cryptocurrency Loans Secured Against Bitcoins If there is anything that has … Read more

RBI Argues Supreme Court Should Not Interfere With Its Crypto Decision

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The Reserve Bank of India has filed an affidavit with the country’s supreme court in response to one of the petitions against its crypto banking ban. The central bank reportedly argues that it has acted within its power and that none of the petitioners have shown reasonable grounds for the supreme court to intervene. Also … Read more

More Banks Sanctioned for AML, Fraud-Related Violations

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When societies discuss cryptocurrencies, the argument that the decentralized and unregulated nature of the crypto space leaves the door open to abuse, like money laundering and financial fraud, is often put forward by officials and authorities. However, a string of cases involving precisely these sins, and many, many banks, show that regulations are largely ineffective … Read more