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WazirX CEO: Ban Crypto to Promote Money Laundering

wazirx, india, crypto, ban

The Banning of Cryptocurrency and Regulation of Official Digital Currency Bill 2019 has been drafted and has started circulating in all the relevant departments, that is, the Department of Economic Affairs (DEA), Central Board of Direct Taxes (CBDT), Central Board of Indirect Taxes and Customs (CBIC) and the Investor Education and Protection Fund Authority (IEPFA). All these departments have approved …


Indian Community Petitions for Faster Crypto Regulation

india, Indian Community Petitions for Faster Crypto Regulation

Bitcoin.com reports that a gathering of crypto communities in India are now petitioning their government for faster clarification of crypto regulation. This comes after widespread reports and rumors about an upcoming Indian bill to ban crypto. The Upper House of the Indian Parliament has also reportedly used its television network to broadcast a discussion of the bill as three Right …


Binance: Privacy Coins Could Boom in India

Binance_ Privacy Coins Could Boom in India

Binance CEO Changpeng Zhao has come out to say that even if the rumored bill to ban crypto in India were true, it would mean good news for crypto as Indians would then flock to privacy coins to bypass the ban. A Bloomberg Quint exclusive which made its rounds on the internet rumor mills this week cited a draft bill …


Indian Lawmakers Propose an Extreme 10-Year Prison Sentence for Crypto Acquisition

Indian Lawmakers Propose an Extreme 10-Year Prison Sentence for Crypto Acquisition

According to a report by BloombergQuint, Indian lawmakers have drafted a bill supporting a 10-year prison sentence and hefty fines for any kind of crypto dealings in India. This comes hand-in-hand with the proposal for introduction of India’s official digital currency, ‘Digital Rupee’. As per the ‘Banning of Cryptocurrency and Regulation of Official Digital Currency Bill’, if passed, a severe …


India Central Bank Denies Knowledge of Crypto Ban Bill

India Central Bank Denies Knowledge of Crypto Ban Bill

The Reserve Bank of India (RBI) has apparently denied any knowledge of or involvement with a supposed bill that would ban cryptocurrency in India, according to a report by Bitcoin.com. In a Rights to Information (RTI) filed by Indian crypto lawyer Varun Sethi to RBI, he asked five nine-part questions related to the central bank’s role in the bill. RBI’s reply said …


India to Witness Asia’s Biggest Blockchain Conference: ‘India Dapp Fest 2019’

India to Witness Asia’s Biggest Blockchain Conference_ ‘India Dapp Fest 2019’

As India has been a spectator of the ever-growing adoption of Blockchain technology, the people are in hold for witnessing the awe-inspiring India Dapp Fest 2019 hosted by India’s biggest Blockchain community, Blockchained India. Deemed to be the top-notch Blockchain conference of Asia, the event is scheduled to be held in Bangalore, the Silicon Valley of India. The India Dapp …


Telangana State Government in India Announces Blockchain Policy

Telangana State Government in India Announces Blockchain Policy

The state government in Telangana in Southern India has announced its initial draft blockchain policy which is expected to be upheld and implemented within a month. The new development will mean that Telangana will become the first Indian state to come up with a pro-blockchain policy. The capital of the state Hyderabad is aiming to become one of the top …


India Supreme Court Advocate Offers Crypto Regulation Ideas

India Supreme Court Advocate Offers Crypto Regulation Ideas

NS Nappinai, CIO of Economic Times, cyber law expert and Indian supreme court advocate, has offered the nation some ideas for cryptocurrency regulation in India, as reported by Bitcoin.com. According to her, if done correctly, a crypto regulatory framework would go a long way towards enhancing openness in the government and industry, but warned against a “one size fits all” approach …


Mastercard Invests $1 Billion into India Fintech

Global payment processor Mastercard has revealed a USD 1 billion investment commitment to financial technology (fintech) development in India over the next five years, reports online fintech portal Techiexpert. According to the source, this follows an earlier investment of the same amount made in the previous five years ending 2019. This second tranche of funding will go towards a complete …


India Trade Body Calls for Crypto in Regulatory Sandbox

India Trade Body Calls for Crypto in Regulatory Sandbox

Led by the National Association of Software and Services Companies (NASSCOM), lobbyists from the Indian technology industry as well as startups have asked India’s banking regulator to ensure that cryptocurrency and related assets are included in its regulatory sandbox framework proposed for the financial technology (fintech) industry. The Reserve Bank of India (RBI) issued last month the Draft Enabling Framework …


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