News
Cryptocurrency is taking off in India despite regulatory fears, which many are now dismissing as nothing but FUD.
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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.
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Tech Mahindra wants to provide U.S. banks with a stablecoin solution after the OCC authorized federally chartered banks to use stablecoins for settlement in January.
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India’s WazirX has launched an NFT marketplace for the exchange of digital assets. The launch comes after a strong month for the exchange’s in-house WRX token.
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"The load on our systems are way too much," said CEO Nischal Shetty.
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True or not, the timing of the announcement is suspect given many companies' apparent fondness for pranking customers on April 1.
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Cryptocurrency exchange operators in India are attempting to dissuade the government from banning digital currencies.
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Recent amendments to India’s Companies Act will see firms in the country include their crypto involvement in all public financial reporting.
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Rejecting crypto as a reserve currency will lead to an Indian currency devaluation of the worst kind, warns blockchain entrepreneur Raj Chowdhury.
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Coinbase plans to base some of its “IT services” in India, including engineering, software development, and customer support.
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Co-founder of major Indian tech company Infosys Nandan Nilekani has urged the government to help MSMEs access capital using Bitcoin.
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Privacy-focused decentralized and peer-to-peer technology solutions offer a better alternative to centralized platforms.
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MetaKovan, the pseudonymous founder of NFT fund Metapurse and buyer of Beeple’s $69 million NFT, has revealed himself.
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The Ministry of Finance of India continues to form a careful position on private cryptocurrencies.
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No blanket ban on the horizon, with an open “window” for experimentation in India, says Nirmala Sitharaman.
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A peer-to-peer marketplace based on PowerLedger's blockchain technology will enable consumers and prosumers to trade their surplus rooftop solar energy.
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