News
In a letter to investors, BlackRock CEO Larry Fink highlighted the benefits of digital assets and said developing nations like the U.S. are lagging behind in innovation.
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India News
India today is no stranger to the concept of Bitcoin (BTC) and cryptocurrency. Home to over 1 billion people, the South Asian country touts a population rivaling that of China. India, officially known as the Republic of India, is the second-largest country by population after China. The industry of cryptocurrency in India today still shows a country that is uncertain about the asset class.
In India, government bodies have discussed the country’s stance on cryptocurrencies for years. Although headlines have mentioned various possible cryptocurrency-related bans and regulatory moves — with people often asking, “Is Bitcoin legal in India?” — the country has yet to officially outlaw crypto on the whole. Companies focused on digital assets could not work with banks for a time, thanks to a 2018 ruling from the Reserve Bank of India, or RBI — the country’s central bank — but those restrictions were removed in 2020.
- News
The similarity in the short forms of the two banks — SVB and SVC Bank — caused a mixup among a few Indian citizens as they took up the concern with the Mumbai-based bank.
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Elizabeth Warren and Sherrod Brown didn’t miss a chance to attack the crypto industry after bank failures.
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The operators must store the transactions’ data for ten years and pass it to regulators on demand.
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Blockchain technology is empowering women in developing countries with financial freedom and improved access to social inclusivity and growth.
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In addition to offline functionality, RBI is gauging CBDC’s potential for cross-border transactions and linkage with legacy systems of other countries.
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A series of recommendations and papers setting standards for a global crypto regulatory framework will be released by the institutions in July and September.
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India’s finance minister called for a coordinated effort “for building and understanding of the macro-financial implications,” which could be used to build global crypto reforms.
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One of the banking partners in the cross-border remittance service is also part of the government’s CBDC program.
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Following men’s cricket, the Board of Control for Cricket in India (BCCI) prohibits women’s teams from having commercial associations with crypto businesses.
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The central bank of India wants to proceed with CBDC testing in the smoothest way possible, deputy governor Rabi Sankar said.
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Algorand has partnered with several educational institutions and schools to create programs for faculty members, students and businesses looking to jump into Web3.
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Nirmala Sitharaman hopes that finance ministers and central bank governors can agree on crypto regulations at the G20 meeting in Bengaluru later this month.
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According to the announcement, WazirX has until the end of the day UTC on Feb. 3 to withdraw all remaining funds it stores in Binance wallets.
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Reliance Retail has implemented support for the digital rupee in its gourmet store line Freshpik.
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